Black Money probe: Will Swiss Banks assist in bringing illegal cash back in country?

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Black Money: Will Swiss Banks assist?
New Delhi, Nov 2: Justice MB Shah, Chief of the Special Investigation Team (SIT) on black money, on Sunday said it would require cooperation from the Swiss banks for bringing back black money in the country.

"Inquiry is going on, but how much time it takes cannot be said. It's not difficult to bring back black money but if the banks of Switzerland will cooperate then the money will come back," Justice Shah told media.

Stressing on the fact that nobody knew yet how much money was stashed abroad and how much of it could be brought back, he added that no comments can be made on that.

"It's good for the country to bring back black money, but as of now nobody knows how much can be brought back and how much is abroad and even I cannot say anything on it," he added.

"There are many NRIs in the list but the money which they keep abroad cannot be touched, but inquiry was being done for the rest. Roughly 200 persons are being inquired," he added.

Prime Minister Narendra Modi, in his second radio address to the nation, said that he would work to ensure that every single penny of black money is returned back to the country.

"About black money, please trust this 'Pradhan Sevak' (First Servant of the Nation), it is an article of faith for me. This is my commitment. I will leave no stone unturned to bring back black money. I assure you, I will not be held back in bringing back whatever the amount, don't know the numbers yet, many numbers are floating around," said Prime Minister Modi.

Attorney General had submitted three sets of documents, containing the list of 627 people having illegal accounts in foreign banks to the Supreme Court in a sealed cover. The government had also submitted a status report in a sealed cover.

The apex court, which directed the investigating agency to submit the status report of its probe by the end of November, said only the SIT chairman and vice-chairman can open the seal.

[With agency inputs]

OneIndia News

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