The four executives—three Russians and one Swiss—were found guilty Thursday of helping Sergey Roldugin, a concert cellist who has been dubbed 'Putin's wallet' by the Swiss government.
The ministry said the Indian customer deposits in Swiss banks have fallen since 2019 and recent figures don't indicate the quantum of much-debated alleged black money held by Indians.
The increase in funds of Indian clients with Swiss banks, from Rs 6,625 crore in 2019, reverses a 2-year declining trend. However, customer deposits fell for the second year.
In ‘Kleptopia’, Tom Burgis follows how dirty money floods the global economy when crisis hits democracies and kleptocrats see an opportunity to seize power.
The information shared by Swiss authorities include identification, account and financial information as well as information on account balance and capital income.
The information, provided under the new automatic information exchange pact, includes details of currently active accounts as well as those closed in 2018.
As India has ranked 74th in terms of money stashed by its residents in Swiss banks, ThePrint takes a look at the different legitimate ways of transferring funds overseas.
Banking statistics by the Swiss National Bank (SNB) show that India accounts for about 0.07 per cent of aggregate funds parked by all foreign clients of Swiss banks.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
A common thread runs through the memories of soldiers of the 1965 war—ingenuity, courage and camaraderie that withstood an apparently technologically superior foe.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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