India Has Got The Second List Of Swiss Bank Accounts
India has got the second list of Swiss bank accounts of Indians, Big win in the fight against black money. India has got the second list of Swiss bank accounts of Indian citizens and units.
India has received these details under an agreement with Switzerland on the automatic exchange of information. This can be seen as a major achievement in the government’s fight against black money.
The Federal Tax Administration (FTA) of Switzerland has this year shared details related to financial accounts to 86 countries, including India, under the AEOI (Automatic Exchange of Information) framework.
India received details related to Swiss accounts for the first time in September 2019 under AEOI. At that time the Swiss FTA shared these details with 75 countries.
In a statement released on Friday by the FTA, it said that information about 31 lakh financial accounts has been given this year under the Information Exchange. Last year, about the same number of accounts were given by the FTA.
India’s name has not been explicitly mentioned in the statement issued by the FTA but officials told ‘leading news agency’ that India is among the major countries with whom Switzerland has shared information related to Swiss bank accounts.
Officials said that this year, the number of Indian citizens and units in the more than 3 million financial accounts provided by Switzerland to 86 countries is quite high.
According to officials, in the last one year, Swiss authorities have given information of more than 100 Indian citizens and units on request.
Swiss authorities have given this information based on the request of the Indian authorities for administrative support in connection with the investigation related to financial irregularities.
Most of these cases were related to old accounts and closed accounts before 2018. AEOI is only effective in cases of active or closed accounts in 2018.
Meanwhile, good news for SBI account holders, EMI facility available on a debit card, can do online shopping. There is good news for account holders of State Bank of India (SBI). You do not need to see bank balance for your shopping in this festive season.
Debit cards issued by SBI to their account holders are now being offered with EMI facility. This will benefit those customers who want to do home appliances or online shopping. Customers can quickly convert their purchases into installments.
