List of countries by black money
- Top 5 countries on black money list; India third
- India 3rd on black money list, $440bn flows out in 10 years
Top 5 countries on black money list; India third
In India, black money is funds earned on the black market, on which income and other taxes The root cause for the increasing rate of black money in the country is the lack of strict punishments for the offenders. . In February , Indian Express released the list of Indians account holders and their balances for the.del
India has moved down one place to 74th rank in terms of money parked by its citizens and enterprises with Swiss banks, while the UK has retained its top position, as per data released by the central banking authority of the Alpine nation. India was ranked 73rd last year, after jumping 15 places from its 88th position a year ago. An analysis of the latest annual banking statistics released by the Swiss National Bank SNB shows that India remains ranked very low when it comes to money parked by Indian individuals and enterprises in Swiss banks, including through their India-based branches, while accounting for just about 0. In comparison, the top-ranked UK accounted for more than 26 per cent of the total foreign funds parked with Swiss banks at the end of The top-five countries alone account for more than 50 per cent of the aggregate foreign funds parked with the Swiss banks, while the top account for nearly two-thirds. The top countries account for nearly 75 per cent of all foreign money in Swiss banks, while the contribution of the top is almost 90 per cent. Among the five-nation BRICS block of emerging economies, India is ranked the lowest while Russia is ranked the highest at 20th place, followed by China at 22nd, South Africa at 60th and Brazil at 65th place in terms of amount of money parked by their residents and enterprises at the end of
Jump to navigation. People on social media have surrounded Narendra Modi led central government over its failure to bring back the black money stashed abroad. Not only people are furious over its failure to bring back such money but the fact that the Indian money in Swiss banks rose by 50 per cent made them all the more angry. India has moved up to 73rd place in terms of money parked by its citizens and companies with Swiss banks, while the UK remains on the top. India had slipped to 88th place with a 44 per cent plunge in such funds during , but the latest data from the Swiss National Bank SNB shows an increase of over 50 per cent during to CHF 1. The funds, described by SNB as 'liabilities' of Swiss banks or 'amounts due to' their clients, are official figures disclosed by Swiss authorities and do not indicate to the exact quantum of the much-debated alleged black money held in famed safe havens of Switzerland.
India 3rd on black money list, $440bn flows out in 10 years
Top 10 Countries with Highest Black Money in the World.