Finance Ministry refutes claim that funds of Indians increased in Swiss Bank by Rs. 20,700 crore
The Ministry of Finance today refuted the claims in some media reports that the funds held by Indians in the Swiss Bank increased by Rs. 20,700 crores in 2020. The finance ministry said the reports do not indicate the quantum of much-debated alleged black money held by Indians in Switzerland. The Automatic Exchange of Information in on between India and Switzerland under the Multilateral Competent Authority Agreement.