Finance Ministry to write to Swiss authorities about Indian account holders: Arun Jaitley

Finance Minister Arun Jaitley confirmed to the media on Monday that the Ministry of Finance will soon be writing to the Swiss authorities for information on Indian account holders in their country, as till now they haven't received any official confirmation.

"The news has appeared in various sections of the media quoting Swiss authorities that they are willing to actively cooperate with the Government of India in giving details about Indians who hold bank accounts in the Swiss banking system. The Ministry of Finance has officially not received any communication as yet. We are today writing ourselves to the Swiss authorities to whom the ministry has been in touch so that details with regard to whatever info the authorities have can be expedited," said Jaitley.

"The cooperation between the Swiss authorities and the government of India can bring fruitful results," he added.

Switzerland has reportedly prepared a list of Indians suspected to have stashed un-taxed wealth in Swiss bank and is being shared with India giving a major boost to government's fight against black money.

India has also constituted a Special Investigation Team (SIT) to probe cases of alleged black money of Indians, including funds stashed abroad in places like Switzerland.

The SIT is being headed by former Supreme Court judge Justice M.B. Shah assisted by former Supreme Court judge Arijit Pasayat, who is named as the Vice Chairman of the SIT.

Secretary Revenue, Deputy RBI Governor, IB Director, ED Director, CBI Director, CBDT Director, Revenue Intelligence Director General, RAW Director are a part of the SIT.