India To Rope In G-20 In Its Drive To Unearth Black Money
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India will try to rope in Finance ministers of G-20 will meet later this week in Australia to endorse the information-sharing proposal. Switzerland has said the information-sharing agreement between India and Switzerland came into effect in 2011, and it will not provide any information related to accounts opened prior to this. Minister of State for Finance,
“We have made huge progress with regard to information sharing... We want this to become more meaningful and for that it's important that countries share data on bank accounts with retrospective basis," said a Finance Ministry official.
Illegal black money deposited in Swiss banks has long been a major political issue in the country. The Modi-led central government stepped up efforts to bring back the money from Swiss banks.
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