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Decline in amount of black money in foreign banks

News and Press Release - Dated:- 20-7-2016 - While there is no official estimation regarding black money of Indians stacked in Swiss banks, recent media reports have quoted Zurich based Swiss National Bank as saying that money held by Indians in Swis .....

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cate to the quantum of alleged black money held by Indians in Switzerland. The Government has taken several steps to effectively deal with the issue of black money, particularly black money stashed away abroad. Such measures include policy-level init .....

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e of information technology. Recent major initiatives in this regard include - (i) Constitution of the Special Investigation Team (SIT) on Black Money under Chairmanship and Vice-Chairmanship of two former Judges of Hon ble Supreme Court, (ii) Enactm .....

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ad, (iii) Constitution of Multi-Agency Group (MAG) consisting of officers of Central Board of Direct Taxes (CBDT), Reserve Bank of India (RBI), Enforcement Directorate (ED) and Financial Intelligence Unit (FIU) for investigation of recent revelations .....

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onventions, (v) According high priority to the cases involving black money stashed away abroad for investigation and other follow-up actions including prosecutions in appropriate cases, (vi) While focusing upon non-intrusive measures, due emphasis on .....

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