2. Indian black money
Black money refers to funds earned on
the black market, on which income and
other taxes has not been paid.
The total amount of black money
deposited in foreign banks by Indians is
unknown, but one estimate by R
Vaidyanathan, a Professor of
Finance, estimated the total at over Rs
7,280,000 Crores
3. Black money in Swiss banks
While official numbers are not
available, Swiss banking officials have said
that the largest depositors of illegal
foreign money in Switzerland are Indian
In August 2010, the government revised
the Double Taxation Avoidance
Agreement to provide means for
investigations of black money in Swiss
banks
4. Black money in swiss banks
Rudolf Elmer provides the list of famous
Indians to Wikileaks.
He also revealed that black money was
started depositing in Swiss Banks in early
70s by some of the names of India
through illegal mining, stock market, drug
dealing, fake projects etc.
5.
6. Monopoly…….
A monopolist maximizes profit by
producing a little less than the market
equilibrium, driving up the price of the
good. This creates a deadweight loss to
society, (some mutually beneficial
transactions are forgone), which is why a
monopoly is discouraged or illegal in
many parts of the world.
7. India not serious about
unearthing black money in
Swiss banks
Rudolf Elmer, a rare whistleblower who
has brought out much information on
secret Swiss banks accounts, has accused
the Indian government of not being
serious enough in getting details of black
money stashed away in Swiss banks.
8. Why People Use Swiss Bank
Accounts
Swiss bank accounts are especially
attractive to more illicit operations, and
are apparently popular for illegal
purposes. Even with law-abiding questions
aside, Swiss banks are often portrayed as
among the premiere financial institutions
on Earth, catering to the wealthiest
people and companies that the global
fiscal scene has to offer
9. Unlike many media portrayals, the mass usage of
Swiss banking by both questionable and
legitimate clients alike is actually based in reality;
as recently as 2009, the financial sector
represented over 11% of Switzerland’s Gross
Domestic Product (GDP) and employed almost
200,000 people, over 5% of the total Swiss
workforce, not to mention employing over 100,000
people abroad. In 2001, Swiss banks managed .6
trillion American dollars. That number has
decreased for numerous global market
reasons, but is still strongly impressively and
impressively strong.
10. The reasons why people use
Swiss bank accounts?
Secrecy
Neutrality
Quality
14. Is India a poor Country
IsIndia 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?
15. Y india is poor?
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.
16. What if dis money cums back?
Yahan mat dekho
Yeh mein bolunga
18. Can we bring back our
money?
Itis 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.
