Zee Media Bureau/Rd. Alexander
New Delhi: Joining the fight against tax evasion and black money that is menacing the economy of the country, the Reserve Bank of India on Monday directed all banks and financial institutions to provide all information and documents sought by the Special Investigation Team on black money.
The move by the central bank comes a day after the Swiss government said it was readying a list of suspected Indians who have un-taxed money in Swiss banks and that it would provide the Indian government with such info.
According to a senior Swiss government official, the names of some individuals and entities from India had come under the scanner of the Swiss authorities during a drive to identify the real beneficiary owners of funds held in various banks in Switzerland.
Following the move of the Swiss government, SIT on black money, a panel set up by the Indian government, also said it was ready for action if any illegality was found.
Earlier on Monday, Finance Minister Arun Jaitley said his ministry is yet to receive any such information from the Swiss government with regards to their statement about providing the list.
Nevertheless, Jaitley said the government will write to Switzerland seeking details of Indians having unaccounted money in Swiss banks besides taking steps to expedite information sharing from the European nation.
