Motilal Oswal
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Motilal Oswal
Economy

Switzerland steps up process to share banking info; 11 Indians get notices in a day

Updated : May 29, 2019 02:42 PM IST

Since March, at least 25 notices have been issued by the Swiss authorities to Indian clients of Switzerland-based banks in which they have been given one last chance to appeal against sharing of their details with India.
At least 11 such notices were issued to Indian nationals on May 21, though the Gazette notifications of the Swiss government has redacted full names for several of them while making public only their initials beside the nationality and the dates of birth.
Several of these names are said to have figured in the leaked HSBC lists and Panama papers which allegedly contained names of Indians with Swiss bank accounts and are being probed by Indian authorities in alleged black money cases.
Switzerland steps up process to share banking info; 11 Indians get notices in a day
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