Page 2 - Swiss Banks
Swiss economy seen tipping into recession on Covid-19 pandemic shutdowns
The median forecast was for a 0.7 per cent drop in gross domestic product in the final quarter of 2020
 "Swiss economy seen tipping into recession on Covid-19 pandemic shutdowns")
Money in Swiss banks: India at 77th place, accounts 0.06% of foreign funds
An analysis of the latest annual banking statistics released by the Swiss National Bank (SNB) showed that India remains ranked very low when it comes to money parked by Indian individuals and enterpri
 "Money in Swiss banks: India at 77th place, accounts 0.06% of foreign funds")
Indian money parked in Swiss banks down 6%; third lowest in over 3 decades
According to SNB, its data for 'total liabilities' of Swiss banks towards Indian clients takes into account all types of funds of Indian customers at Swiss banks, including deposits from individuals
 "Indian money parked in Swiss banks down 6%; third lowest in over 3 decades")
Switzerland sends notices to Indians for trusts set up in tax havens
Individuals suspected to have moved abroad after evading taxes back in India are being probed too.
 "Switzerland sends notices to Indians for trusts set up in tax havens")
Govt refuses to share Swiss a/c details of Indians, cites confidentiality
In reply to an RTI query, the ministry also refused to disclose the details of black money received from other foreign countries
 "Govt refuses to share Swiss a/c details of Indians, cites confidentiality")
Maharashtra's Sangli royals under scanner for Swiss bank accounts
Vijaysingh and Rohini Patwardhan are listed as the only two directors of the company, while the RoC records show its status as 'active'
 "Maharashtra's Sangli royals under scanner for Swiss bank accounts")
Swiss data on closed bank accounts can give clue to Indians' hidden wealth
Full details of the entire flow of funds to and from all the accounts that were active even for a single day in the year 2018 will be provided
 "Swiss data on closed bank accounts can give clue to Indians' hidden wealth")
India to get first set of Swiss bank details of Indians in September
The first set in September would be followed by further despatches on a yearly basis, according to Switzerland's Federal Department of Finance
 "India to get first set of Swiss bank details of Indians in September")
Money Indians have in Swiss banks down 6% in 2018, record low in 20 yrs
The total funds held by Indians with Swiss banks stood at a record high of CHF 6.5 billion (Rs 23,000 crore) at 2006-end, but came down to nearly one-tenth of that level in about a decade
 "Money Indians have in Swiss banks down 6% in 2018, record low in 20 yrs")
Swiss voters say big no to sovereign system that could 'create money'
In Switzerland, both the government and the SNB campaigned against sovereign money on the ground its risked crippling the economy and complicating monetary policy
 "Swiss voters say big no to sovereign system that could 'create money'")
