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    War on black money: India gets first tranche of Swiss bank details

    India | October 07, 2019 16:47 IST

    India has received first tranche of details about financial accounts of its residents in Swiss banks. This comes as a major boost to the Modi government in its war against black money. Switzerland handed over the first tranche to India under a new automatic exchange of infomation framework between the two countries, marking a significant milestone in the fight against black money stashed abroad.

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    Money in Swiss banks: With 50% hike in deposits, India moves to 73rd place

    Business | July 01, 2018 12:12 IST

    It has been often alleged that Indians and other nationals seeking to stash their illicit wealth abroad use multiple layers of various jurisdictions, including tax havens, to shift the money in Swiss banks. 

  • swiss prosecutors probe hsbc subsidiary for money laundering

    Swiss prosecutors probe HSBC subsidiary for money laundering

    World | February 18, 2015 16:36 IST

    Berlin: Geneva prosecutors searched the premises of HSBC's Swiss subsidiary on Wednesday after launching a money-laundering investigation over a report that the bank helped hide millions of dollars for drug traffickers, arms dealers and celebrities.Prosecutors

  • indian money in swiss banks rise to over rs 14 000 crore

    Indian money in Swiss banks rise to over Rs 14,000 crore

    India | June 19, 2014 15:57 IST

    Zurich/New Delhi: Indians' money in Swiss banks has risen to over two billion Swiss francs (nearly Rs 14,000 crore), despite a global clampdown against the famed secrecy wall of Switzerland banking system.The funds held by