All money in Swiss bank is not black money: Goyal

Source: The Hitavada      Date: 01 Jul 2018 09:42:39



FINANCE Minister Piyush Goyal reiterated on Saturday that it will be wrong to say that all the money deposited in the Swiss banks is black money as the deposits may be of Non Resident Indians (NRIs) or of persons of Indian Origion (PIOs) also. Interacting with reporters.

Goyal said that the manner in which hue and cry is being made, is not appropriate. Misinformation is being spread. The information is not categorised and complete. He added that there are more than a crore Indians living outside India and they also do business with the Swiss banks as depositors.

Many Indians send money for their children or relatives. Government has allowed investment of 2.5 lakh dollars in other countries. Many a deposits may be of investment nature. There may be some huge investments too by entrepreneurs. He said that Government has entered into an agreement with the Swiss Government and will start getting real time information about deposits from January 1, 2019 from Switzerland. In case anything is found suspicious, Government will take action.