Rahul Gandhi targets Modi over rise in Indian money in Swiss banks

Vastavam web: Congress president Rahul Gandhi today took a swipe at Narendra Modi over the rise in Indian money in Swiss banks, alleging that the prime minister says a 50-per cent jump in deposits by Indians is “white money” and that there is no “black money”.

“2014, HE said: I will bring back all the “BLACK” money in Swiss Banks & put 15 Lakhs in each Indian bank A/C.

2016, HE said: Demonetisation will cure India of “BLACK” money.

2018, HE says: 50% jump in Swiss Bank deposits by Indians, is “WHITE” money. No “BLACK” in Swiss Banks!(sic)” Gandhi said on Twitter, tagging a media report on the matter.

The Congress also targeted the prime minister over his government’s claims of putting a clampdown on back money and said Swiss bank deposits during the UPA had fallen and the same has risen by 50 per cent under the Modi government.”Swiss Bank deposits fell during Dr. Manmohan Singh’s time, only to rise to record levels under PM Modi. The current increase of 50.2 pc post demonetisation, is the maximum since 2004,” the party said on its Twitter handle.He asked the BJP of its promise of bringing back Rs 80 lakh crore of black money stashed abroad and put Rs 15 lakh in every bank account, but the reality is that instead of Modiji depositing Rs 15 lakh in every bank account, the money parked by Indians in Swiss banks has risen over 50 per cent to Rs 7,000 crore in 2017.

According to the official annual data released by Swiss National Bank (SNB), the central banking authority of the Alpine nation, the total funds held by all foreign clients of Swiss banks rose about 3 per cent to CHF 1.46 trillion or about Rs 100 lakh crore in 2017.The Indian money in Swiss banks had fallen by 45 per cent in 2016, marking their biggest ever yearly plunge, to CHF 676 million (about Rs 4,500 crore) the lowest ever since the European nation began making the data public in 1987.