45% drop in deposits by Indians in Swiss banks: PM Modi
PM Narendra Modi has said there has been a 45% decrease in deposits by Indians in Swiss banks. Addressing chartered accountants on the foundation day of Institute of Chartered Accountants of India, Modi said the deposits had risen sharply in 2013. He added people with black money will face more difficulties when Switzerland begins automatic information exchange in two years.
Addressing chartered accountants on the foundation day of Institute of Chartered Accountants of India (ICAI) at the Indira Gandhi Stadium in Delhi, PM Modi said there had been a record 45 per cent drop in deposits by Indians in Swiss banks.A day after the GST was rolled out in the Central Hall of Parliament, Modi said that the tax reform would help weed out black money. 