Swiss Embassy on Thursday issued a statement saying, "It wishes to make a clarification in view of unsubstantiated media reports that have been recently published about Switzerland and Swiss Banks."
"There have been several speculations about the amount of wealth held by Indians in Swiss Banks...Such estimates and statistics lack of evidence and are uncorroborated," adds the issued statement.
Here it can be recalled that CBI on Feb 13 informed that nearly 500 billion dollars of illegal money (black money) have been stashed in bank accounts of foreign countries.
Media reports quoted Mr Singh as saying, "India has suffered due of illegal flow of funds. Nearly 500 billions dollars of illegal money is abroad."
"Maximum number of account holders in Swiss banks are believed to be Indians," said Mr Singh.