What is Swiss Bank?
The Swiss bank is the central bank of Switzerland.
Swiss Bank Corporation before its merger was the third largest in Switzerland with over 300 billion CHF of assets and 11.7 billion of equity.
Indian money in Swiss bank rises by 50% to up to 7000cr or more. It had fallen by 45% in 2016, but it has risen again in 2017 and 2018. If you compare the total funds of foreign clients of Swiss banks rose by only 3 % in 2017. this comes as a surprise as to the amount of growth in Indian money there, even after so many steps taken by the Indian government.
However swiss bank has already strated sharing the client details after we provided them with the wrong doings evidences . it has been agreed to cooperate with the indian government to fight the problem of black money.
there have been many rounds of discussions between the two to decide for a framework to deal with the problem.
the problem of black money has been huge for india, they are trying all possible methods to bring it down and it was coming down till 2016. but a huge and sudden rise in this year has been a point not understood.
what do you think should be done??
where are we lacking??
