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India Now Receives Swiss Account Details

In 2011, a research found that Indians have deposited a lot of money in Swiss Bank accounts. Why do people around the world deposit money in Swiss Banks? Why are Swiss banks so famous for depositing money? Do you know why? Let me tell you. According to the law, when customers save money in Swiss Banks if doctors, police officials or anyone ask for a customer’s bank details, it is not allowed. That is a law. This is why people from all over the world and India save their black money in Swiss Accounts. Anyone above the age of 18 can open a Swiss bank account. The minimum balance in the swiss account $250,000 which is around Rs 18 lakh. For years, people in India have been hoping that one day all the black money will come back. Till now, nothing has happened. Since years even the Indian government had promised that they will make Swiss Banks share the bank details of Indians. Now the Switzerland government has finally agreed to share information about bank accounts of Indians. Now the black money will return ensure India’s speedy development. Government officials say that they will focus on bank accounts that are linked to political parties and leaders. Switzerland government will share the details by September 2020. The Swiss government has said that like India, they will share bank details with 75 other countries. The Switzerland government will share information such as the names of the account holders, their account numbers, their bank balance and their yearly income.

David Frank