Action will be taken against Swiss deposits, promises Finance Minister

Agencies
June 29, 2018

New Delhi, Jun 29: With deposits by Indians in Swiss banks surging, Finance Minister Piyush Goyal today wondered how all of it can be assumed to be black money, but said strong action would be taken against anyone found guilty of wrongdoing.

India would start getting details of bank accounts from Switzerland under a bilateral treaty, he said.

Money parked by Indians in Swiss banks rose over 50 percent to CHF 1.01 billion (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India's clampdown on suspected black money stashed there.

In comparison, the total funds held by all foreign clients of Swiss banks rose about 3 percent to CHF 1.46 trillion or about Rs 100 lakh crore in 2017, according to data released by the Swiss National Bank (SNB), the central banking authority of the Alpine nation.

India has a treaty with Switzerland under which the Swiss government would provide all data from January 1, 2018 till December 31, 2018. India would get data as the accounting year ends, Goyal said.

Referring to the rise in Swiss bank deposits by Indians, Goyal said, "The data that you alluded to will come to us, so how are you assuming that this is black money or this is illegal transaction?"

Around 40 percent of this money is because of the Liberalised Remittance Scheme (LRS), Goyal said, citing media reports.

The scheme was introduced by former Finance Minister P Chidambaram. Under the LRS, an individual could remit up to USD 2,50,000 per year.

"We will have all information. If someone is found guilty, the government will take strong action against them," Goyal said.

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News Network
November 28,2024

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Mangaluru, Nov 28: In a major breakthrough, police have arrested Rahul, alias Bol Karmaveer Eshwar Jat, a Haryana native, for a brutal train murder committed on October 25. Rahul, a notorious interstate serial offender, was apprehended after a relentless investigation involving multiple state police forces.

The October 25 incident occurred during a train journey when Rahul got into an argument over a cigarette with Mauzzam, a resident of Chikkaballapur. The altercation escalated, leading to Rahul strangling Mauzzam to death. He fled the scene with the victim’s mobile phone, bag, and cash.

Muazzan worked as a sales representative and was differently-abled. He boarded the train on October 24 from Yesvantpur and occupied the Divyang Coach. The incident came to light on the morning of October 25 at Udupi, where a railway guard found Muazzam unresponsive. The railway police immediately rushed him to the hospital, but doctors declared him dead.

Accused Rahul was tracked down through an exhaustive review of over 2,000 CCTV recordings by police teams from Valsad, Vapi, Surat, and Udvada. His identity was eventually confirmed by a vigilant officer from Surat Central Jail, leading to his capture in a joint operation by Railway and Surat police.

Rahul’s criminal record reveals a trail of horrifying offenses across Gujarat, Karnataka, Maharashtra, Telangana, Haryana, and West Bengal. Among these are the rape of a mentally ill minor girl in Pune and the rape and murder of a 19-year-old woman near Udvada railway station in Gujarat's Vapi district. Despite being arrested in the past, Rahul resumed his crimes after securing bail.

On November 19, he allegedly stabbed a 60-year-old man to death aboard the Katihar Express in West Bengal, with a case registered at the Howrah police station. In Telangana, he confessed to murdering a woman in yet another shocking crime.

Public Advisory:

  • Stay vigilant when traveling on trains, especially during late hours.
  • Report suspicious individuals or activities to railway authorities immediately.
  • Ensure your personal belongings are secure while traveling.
  • This arrest brings a sense of relief, but the investigations continue as authorities piece together the full extent of Rahul’s crimes.

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News Network
November 19,2024

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News Network
November 15,2024

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Union minister Amit Shah on Friday, November 15, said PM Narendra Modi will amend the Waqf Act despite opposition from leaders like Uddhav Thackeray and Sharad Pawar.

"Modi ji wants to change the Waqf Board law, but Uddhav ji, Sharad Pawar and Supriya Sule are opposing it," Shah said, addressing a rally at Umarkhed in Maharashtra's Yavatmal district.

"Uddhav ji, listen carefully, you all can protest as much as you want, but Modi ji will amend the Waqf Act," he said. Shah said there are two camps in the November 20 Maharashtra assembly polls, one of 'Pandavas' represented by the BJP-led Mahayuti and the other of 'Kauravas' represented by Maha Vikas Aghadi.

"Uddhav Thackeray claims that his Shiv Sena is the real one. Can the real Shiv Sena go against renaming Aurangabad to Sambhajinagar? Can the real Shiv Sena go against renaming Ahmednagar to Ahilyanagar? The real Shiv Sena stands with the BJP," Shah said.

"Rahul Baba used to say that his government would credit money in the accounts of the people instantly. You were unable to fulfil your promises in Himachal, Karnataka, and Telangana," he said.

Shah said the Mahayuti alliance has promised that women will get Rs 2,100 per month under the Ladki Bahin Yojana. "Kashmir is an integral part of India and no power in the world can snatch it away from us," Shah said.

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