Thursday, January 24, 2013


As always is the case with serious issues of national importance,one relating to Indian money in Swiss banks  has been forgotten,slipped under the carpet by the guilty and perhaps,by the media.What one gets  to hear of the issue is that Govt has signed an agreement with Swiss authorities by which they will not divulge details of the accounts held  or operated prior to year 2011.
How very convenient?
Different countries react differently to a given situation.It is all about national commitment. Isn't it?
Countries such as the US and Somalia have been able to get details of their dirty money in Swiss banks, among so many other countries.
As per news report of...Associated Press Nov 2012....(CLICK HERE TO READ).
Opposition parties in Germany’s upper house of Parliament on Friday blocked a new agreement with Switzerland aimed at ending a long running dispute over German tax cheats who hide their money in Swiss banks.
German authorities were also to be given more powers to seek information on German nationals’ accounts in Switzerland.
France, whose tax treaty with Swiss dates back to 1952, is also renegotiating an accord to catch tax evaders. The country’s socialist Government has promised to tax the ultra wealthy at a rate of 75 percent on earnings above $1.29 million and sees its Alpine neighbor as a heaven for citizens trying to avoid paying their share.
While, some countries are taking positive steps.........As per a report of the Asian Development Bank (unconfirmed).......Vietnam has amended its laws so as to enable dirty money to be parked in Vietnam. Hence, there are reasons enough for such money shifting from Swiss to Vietnam.
And here, we, in India are once again shying away from facing the truth of corruption, bankruptcy of honesty  in  dealing with to national security national security and lack of political will.




Shilpa Garg said...

In our country the leaders / politicians themselves have so much of this dirty money so why would they want the reforms to come into force!

Anonymous said...

So governments are not completely helpless regarding bringing back money kept in Swiss accounts.

Then wy doesn't the Indian government do something about the black money of Indians stashed away in Swiss accounts?

BK Chowla, said...

I agree.
Recently I went the house of an MP.
One can imagine as to did the Rajas lived.It was amazing

BK Chowla, said...

No,govt is never unable to act.
It only has to have honesty of purpose and political will

Usha Menon said...

Where there is a will, there is a way. Our GREAT leaders have so much to hide.How can they expose others!

R. Ramesh said...

yes sir as usha says if there is a will it can happen...but the prob is there is no will to do the right things..who will bell the cat is the question among leaders

Andrew Collins said...

I wish that India will have something good a better change, corruption government leaders hope will be aware of this kind of situation in money I learned a lot from your post It's interesting I'm a student taking up Financial Course and I'm actually a member of financial planning association texas I'm mastering different Financial situation thanks for this new ideas in mind truly a big help to my career cheers!

BK Chowla, said...

A german newspaper has reported that the total loot in India is twice that much of what Britishers did

BK Chowla, said...

Andrew Collins,
Welcome to CHANGE INDIA.
I really hope situation changes in India.Corruption will be the only issue during coming elections

BK Chowla, said...

R Ramesh,
If they dont show political will,they will be shown the door in 2014

R. Ramesh said...

sir good to know abt yr sugar control..:) cheers n wishes always