NRI bank accounts in Switzerland |
Many Indian accounts that have emerged in the fresh HSBC Geneva list that may not qualify for any penal action in India. Officials reportedly said many of the accounts are owned by NRIs, who can legitimately operate bank accounts in foreign countries without any permission from Indian authorities. Another set of accounts, operated by Indian companies or Indian citizens, may have been already in the know of Indian authorities. For many companies with operations across the globe, it is a legitimate requirement to operate accounts in places like Geneva, Finance minister Arun Jaitley had said in response to the expose that the government already had most of the details that emerged in media reports. Some new names have been revealed whose veracity would be checked by authorities. Officials said they would be going over each new name that has emerged but did not reveal how many of them were really new to them. In 2011, French authorities had handed over to India 628 names with accounts in HSBC Geneva.
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