black-money

More than Rs 300 crore money of Indians lying unclaimed in Swiss bank accounts

Despite persistent political debate in India on the issue of illegal black money in Swiss banks, even after three years of issuing notice to the inactive accounts of Indians in these banks, no claimant has been found.

Switzerland for the first time released a list of some inactive accounts in December 2015. These accounts included the citizens of Switzerland as well as many foreign nationals, including some people of India. After that time, more and more accounts of such accounts have been issued, on whom no one has claimed.

Under the rule, the list of these accounts is issued so that the legal heirs of the account holders have the opportunity to claim them. After getting the right claimant, the account information is removed from the list. In 2017, information of 40 accounts and two safe deposit boxes had been removed from the list.

Although there are still more than 3,500 such accounts in the list, at least six are from Indian nationals and their claimants have not been received. According to the latest figures released by the Swiss National Bank, the deposits of Indian people in Swiss banks increased 50 percent in 2017 to 1.01 billion CHF (Swiss franc) i.e. around 7,000 crore rupees. However, it does not include the amounts which have been deposited in the name of the bodies located in any other country.

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