Black money row: Finance Minister promises to get all data from Swiss Bank by 2019
Union finance minister Piyush Goyal’s reacted to Swiss Bank’s newly released data. Bank data showed money parked by Indians in Swiss banks rose over 50% to Rs 7,000 crore in 2017. The minister said that from January 1 2018 till the end of accounting year, all data will be made available. Further, he requested not to make an assumption on whether it is black money or illegal transactions. As per the latest data, the Indian money in Swiss banks included CHF 464 million (Rs 3,200 crore) in the form of customer deposits CHF 152 million (Rs 1,050 crore) through other banks. Total funds held by all foreign clients of Swiss banks rose about 3% to Rs 100 lakh crore in 2017.