Certified Personal Financial Planners Money Investment Advisers and TAX Planning Saving ELSS Chennai India

Indian Money in Swiss Bank Accounts

Posted by VRIDHI on 19/12/2008

From a Forwarded Mail (Authenticity of the mail not verified)

 

 

Is India poor, who says? Ask Swiss banks with personal account deposit bank of $1500 billion in foreign reserve which have been misappropriated, an amount 13 times larger than the country’s foreign debt, one needs to rethink if India is a poor country?

DISHONEST INDUSTRIALISTS, scandalous politicians and corrupt IAS, IRS, IPS officers have deposited in foreign banks in their illegal personal accounts a sum of about $ 1500 billion, which have been misappropriated by them. This amount is about 13 times larger than the country’s foreign debt. With this amount 45 crore poor people can get Rs 1,00,000 each.
This huge amount has been appropriated from the people of India by exploiting and betraying them.

Once this huge amount of black money & property comes back to India, the entire foreign debt can be repaid in 24 hours. After paying the entire foreign debt, we will have surplus amount, almost 12 times larger than the foreign debt. If this surplus amount is invested in earning interest, the amount of interest will be more than the annual budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain the country very comfortably..

Some 80,000 people travel to Switzerland every year, of whom 25,000 travel very frequently. ‘Obviously, these people won’t be tourists. They must be travelling there for some other reason,’ believes an official involved in tracking illegal money. And, clearly, he isn’t referring to the commerce ministry bureaucrats who’ve been flitting in and out of Geneva ever since  the World Trade Organisation (WTO) negotiations went into a tailspin!

Just read the following details and note how these dishonest industrialists, scandalous politicians, corrupt officers, cricketers, film actors, illegal sex trade and protected wildlife operators, to name just a few, sucked this country’s wealth and prosperity. This may be the picture of deposits in Swiss banks only. What about other international banks?

Black money in Swiss banks — Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries :

Top Five
1. India — $1,456 billion
2. Russia —$ 470 billion
3. UK ——-$390 billion
4. Ukraine – $100 billion
5. China —–$ 96 billion

Now do the maths – India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined.

Public loot since 1947: Can we bring back our money? It is one of the biggest loots witnessed by mankind — the loot of the Aam Aadmi (common man) since 1947, by his brethren occupying public office.

It has been orchestrated by politicians, bureaucrats and some businessmen. The list is almost all-encompassing. No wonder, everyone in India loots with impunity and without any fear. What is even more depressing in that this ill-gotten wealth of ours has been stashed away abroad into secret bank accounts located in some of the world’s best known tax havens. And to that extent the Indian economy has been stripped of its wealth.

Ordinary Indians may not be exactly aware of how such secret accounts operate and what are the rules and regulations that go on to govern such tax havens. However, one may well be aware of ‘Swiss bank accounts,’ the shorthand for murky dealings, secrecy and of course pilferage from developing countries into rich developed ones.

In fact, some finance experts and economists believe taxhavens to be a conspiracy of the western world against the poor countries. By allowing the proliferation of tax havens in the twentieth century, the western world explicitly encourages the movement of scarce capital from the developing countries to the rich.

In March 2005, the Tax Justice Network (TJN) published a research finding demonstrating that $11.5 trillion of personal wealth was held offshore by rich individuals across the globe. The findings estimated that a large proportion of this wealth was managed from some 70 tax
havens. Further,augmenting these studies of TJN, Raymond Baker — in his widely celebrated book titled ‘Capitalism’ s Achilles Heel : Dirty Money and How to Renew the Free Market System’ — estimates that at least $5 trillion have been shifted out of poorer countries to the West since the mid-1970.

It is further estimated by experts that 1 % of the world’s population holds more than 57 % of total global wealth, routing it invariably through these tax havens. How much of this is from India is anybody’s guess. What is to be noted here is that most of the wealth of Indians parked in these tax havens is illegitimate money acquired through corrupt means.

Naturally, the secrecy associated with the bank accounts in such places is central to the issue, not their low tax rates as the term ‘tax havens’ suggests. Remember Bofors and how India could not trace the ultimate beneficiary of those transactions because of the secrecy associated with these bank accounts?

IS THERE ANY ONE WHO CAN SAVE INDIA?

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26 Responses to “Indian Money in Swiss Bank Accounts”

  1. DEOL said

    Thousands crores ruppes of the government are deposited by these corrupted politicians in swiss bank and more than this other properties are in all the world of these people.On the other hand see our judiciary system there is no law to take back money from these politicians and sealed their and their relatives property to sold for recovery of the money.There is no special law which provides life imprisionment or hang till death for scam of crores ruppes.When we talk to a common man( whoes annual income atleast 20lacks ruppes).he says that he is ready to hang himself till death if someone gives 100crores(not thousands crores) to his family.So my dear honest indians every corrupted person says there is no law to punish and recover the money from them or their relatives.So they can fearlessly can do scam because it is their’s legal right to do scam and go to prison for some years(in realty months) and enjoy the fruit(money) of scam.Courts and common person know that due to scams….there is lack of good roads,hospitals,education and other health services.Due to all these scams thousands killed by road accidents and lack of hospitals.These people r directly killed by these politicians,they should be hanged for all these murders.Judiciary system should awake .

    • subham srittam nayak said

      is INDIA democratically elected country ? we may believe it is a poor country in white money for all but it is made blackest corrupted rich country by pressing the necks of common people and snatching money from them . still there are many people who are unable to get simply migre amount of food , shelter nor cloth to be alive. they are struggling for live . but due to our negligance they have become animal have forgotten all about it . is this fare carrying on india. it has become a corruptically elected country. so plse lets joiun our hands for making a beutiful nonh-corrupted country.

  2. we have to save our india otherwise these politicians sell out country in one day

  3. gannu sarkar said

    what hell of these corrupted indian politician and DISHONEST INDUSTRIALISTS, scandalous politicians and corrupt IAS, IRS, IPS, have sucked india ruthlessly. lets awake and suck them to regain the Indian glory….

  4. OMKAR said

    please save india from indian political beggars(scammers……)

  5. Kamlesh said

    MY FRIENDS, LETS STARTR SAVE INDIA…. LETS SPREAD THE MAIL… LETS PRESSURE GOVERNMENT AND GET OUR MONEY BACK…. ITS VERY VERY IMPORTANT.

  6. HERAMB SHELKE said

    I KNOW PEOPLE HAVING ACCOUNTS IN SWISS BANK…BUT NO USE …OUR GOVERNMENT IS PROTECTING THESE PEOPLE,BCOZ THESE ARE THE PEOPLE WHO GIV MONEY TO RUN THE GOVERNMENT,,,, SHAME ON US WHO KEEP ON JUST SEEIN WAT ALLL IS GOIN THROUGH…..

  7. chaudhary said

    how much helpfull this thing is?? because if its really helpfull than i hav some really powerfull names with me having accounts in swiss banks. i want all of you to take this issue to in media if its gonna help cuz media is corrupt when it comes to leaking out bikg names on television.

  8. prasanna said

    i like to bring back this block mony to india any body help me pleas

  9. Churchill Kumar Shah said

    It’s Shame to Indian Govt that we have got lots of money in Swiss bank.Just think about Commonwealth Games Idiot Suresh Kalmadi has sucked all the funds i.e Rs. 35000 Crores which is supposed to use for games. Now our Govt must take back all the money from Rogue Kalmadi ask him where all the money have gone?? else hang him to death… & get the orders from Supreme Court this time no mercy just kill him else Congress Govt must be suspended.we lost faith on your dirty Congress Govt.ha ha Olympics in London constructed already even though Olympic games starts in 2012 & Our Govt was busy in accepting bribes shameful Govt.that is how things work in UK no Bribe here in India bribe starts from the Bottom level. Most Important thing whenever we elect Leader such as M.L.A,M.P,Misters etc.., his/her complete economic background has to be checked by the Indian Govt & must be published in the newspaper before nominating by the Govt & we have to keep records of every politicians.

  10. nirmal raj said

    hi
    who says india is poor country.
    India makes him as poor country,
    Indians are now take some steps to realise the black money,
    This is too late to our country.
    If this money will come to our country mean then our country will over come to the world ranking list.

  11. kishan reddy said

    let us bring back our money and save our country PLEASE

  12. Anil said

    I read this news its not a news its versity of india nobody is not thinking about country all are sucking blood of country where is honesty in people it supposed to going on like this one day every thing will finished so walk up and shake up all raise your hand to save india no sick india .

  13. Srijey said

    I read the article from The Telegraph published on Jan 16 2009 from calcutta. I still question the authenticity. I understand gold and properties of Indians sitting outside the country is not listed here. I strongly feel these figures are exaggerated and people are not that greedy and know that they are not that generous for their offsprings. What international pressure forced Swiss banks to disclose these numbers? We must stop widening the gap (have & have-nots) in India. Corruption is not the only evil; or it may be just a result of some emotional or discipline issue. There are other priorities- let’s work for a change….and we can. Few steps- stop attending political rally; stop new cars; Follow/copy Japan, and Sweden; promote welfare organizations and curb pseudo-welfare activities like elite schools, hospitals; and so on.

  14. Yogesh said

    Read that news in “The Telegraph ” around jan 2009 end. Will verify the date later as i have a cutting of the same.Such a responsible paper wont pluck figures out of the air.

    Thanks

  15. TBsv said

    WOW! This is why we need accountability from all our public departments, the government and beaurocrats!

  16. anand jha said

    This is very disheartening….

  17. amit said

    i like this article very much. its a good mirror for us to look at where we stands. politicians are sucking our blood for many years. we must take some concrete steps for this.

  18. CHURCHILL KUMAR SHAH said

    HAI,
    I have read information on the above of the mail mentioned

    I am shocked to know that our politicians and people has 1500 billion dollars in swiss bank and I think we can repay other Foreign debit very easily and we can make our country in better position. I think we all must stand forward for justice and we all must know that where does these money comes from and where does it goes? one more important thing is in india every employer is paying tax but our politicians is just swallowing money from public for their luxurious life and this is the main reason why most of the people don’t want to pay tax.I request you to send me as much details of our politicians to my mail address.

    Regards,
    CHURCHILL KUMAR SHAH

    • Churchill Kumar Shah said

      Let us get similar kind of facility as Swiss bank in India so that we can get great advantage to our country and we must take interest for money and our facility must be more powerful than swiss bank.

    • CHURCHILL KUMAR SHAH said

      Our Indian Government must get more powerful amenities than Swiss Bank in India this would be the great advantage to our Indian Economy and We all know very well that Switzerland is the richest country due to our Indian Money in the Swiss Bank.If we are able to built similar kind of Swiss Bank in India then every Politician & Businessman etc.., from various countries might interested to get the money to India and Interest rate must be slightly less than Swiss Bank for certain amount. most important thing we have got great software companies like Infosys,TCS,Wipro etc..,this companies must work harder for accomplishment to provide authoritative facilities than Swiss Bank.We must depict any details of customers who ever he/she might be to anyone not even FBI,CBI or any other agencies as Swiss bank does.

      Advantages of Getting Similar kind of Swiss Bank in India :-

      1)we can improve our India economy such as Share Market and Indian Rupee might go more stronger.
      2)we can get most of our money back from Switzerland i.e, Swiss Bank.
      3)Our Indian politicians black money will be in India only and It won’t go anywhere.
      4)we can improve our infrastruture at higher level and our country can develop educational sectors.
      5)India can even get games like Olympics in coming future due to this bank.
      6)we can increase tourist from different countries.
      7)Important People from every country might be interested to keep their Black money safe in our Bank.

  19. george said

    I read somewhere Mr.amar singh has donated 5 million dollars to bill clinton fund…that is 20 crores ( 40 ruppes/dollar)…he must have another 200 crores,or 2000 crores…

    where did he get all these money… it sounds sohollow that these leaders are desperate to serve their motherland.. must be, where else they can siphon so much..

  20. Namaste,

    I have, on the above of the mail mentioned “Forwarded Mail”

    The mail was received by me and has created an interest in researching the same.

    We cannot speculate if its 1500 Bn $ or more or less but since we all know money does go into those accounts. The privacy policy of the bank is not good for the world and even President Elect Mr.Obama had mentioned about it in one of the speeches.

    Rgds

    Vivek Karwa

  21. Dr Rajan Iyyalol said

    Hi
    I down loaded the new annual reoprt of the SBA (swissbankers association report 2007/2008 ) biut couldn’t find the figures that you are quoting. No tables of nationwide deposits I could find. Could ypu plaese clarify? If we can quote and forward the source that will give more authenticity for the blog. i will forward your blaog to as amany paeople I can provided the authenticity is vrrified

  22. Sasi Kumar said

    Let us spread this msg across. awareness is the first step.although i am aware of the swiss bank accounts & people holding money there,its surprising to see the tune of this operations.

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