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Oppositions slam Modi over reports of rise in Indian money in Swiss Bank

| @indiablooms | Jun 29, 2018, at 11:00 pm

New Delhi, June 29 (IBNS): While Narendra Modi claimed to bring back all black money stashed abroad ahead of the 2014 elections, the oppositions have teared into the Prime Minister after reports revealed a rise in Indian money at the Swiss Bank.

In a tweet, the Congres party wrote:

Communist Party of India (Marxist) leader Sitaram Yechury wrote:

Congress leader Manish Tewari wrote:

Posting a caricature over the report, the Aam Aadmi Party said the black money stashed abroad will not return in PM Modi's government.

Taking a dig at Modi, senior lawyer Prashant Bhuhan wrote: " After promising to bring back black money abroad in 90 days &putting 15L each in our pockets, after 4 years in offices & numerous foreign junkets, we find Mallya, NiMo, MehulBhai looting 1000s Cr & scooting. Our money in Swiss banks >50%. Now FinMin says we will get info by 2019!"

Earlier, West Bengal Chief Minister Mamata Banerjee slammed Prime Minister Narendra Modi over note ban and reports of 50 percent rise in Indians stashing money in Swiss banks. 

She said India is 'losing' due to Modi's note ban move.

"Bravo! #DeMonetisation? Swiss Bank money flying. India losing," she said.

Narendra Modi and his government had banned old Rs. 1000 and Rs. 500 currency notes in 2016.

Congress president Rahul Gandhi too attacked  Modi over reports of 50 percent rise in Indians stashing money in Swiss banks. 

Gandhi also slammed Modi over the issue of black money and note ban.

Gandhi said Modi failed to bring back black money from Swiss banks.

Even as the Narendra Modi government claimed to have made a clampdown on black money, an official annual data released by the Swiss National Bank revealed that money stashed by Indian in Swiss Bank rose to 50 percent to CHF 1.01 billion (Rs 7,000 crore) in 2017.

The Indian money deposited in Swiss banks had fallen by 45 percent in 2016 but in 2017, the total funds held by Indians with Swiss banks rose to 999 million Swiss franc (Rs 6,891 crore).

According to the data, the Indian money in Swiss banks included CHF 464 million (Rs 3,200 crore) in the form of customer deposits, CHF 152 million (Rs 1,050 crore) through other banks and CHF 383 million (Rs 2,640 crore) as ‘other liabilities’ such as securities at the end of 2017.

This comes even as the Centre constituted a Special Investigation Team (SIT) to probe cases of alleged black money of Indians stashed abroad.

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