Govt must build trust for compliance window success: Kidwai

Last Updated: Tuesday, September 1, 2015, 16:25

The government needs to assure against any "witch-hunt" to make the compliance window under the new black money law a success and it's a "pity" that the people do not believe its credibility, HSBC's India head Naina Lal Kidwai has said.

Black money: Swiss banks ask Indians to utilise 'compliance window'

Last Updated: Sunday, August 30, 2015, 18:04

Spooked by the new black money law, a number of Swiss and other European banks have begun asking Indian clients to disclose their accounts to the tax authorities back home as they fear being accused of 'abetting' the hoarding of untaxed assets.

Black money: Cooperating with Indian authorities on Swiss a/c probe, says HSBC

Last Updated: Monday, August 3, 2015, 16:27

Facing a probe by Indian authorities into accounts held by Indians in Switzerland, global banking giant HSBC Monday said it is cooperating with the authorities.

Fall in Swiss bank funds may be due to black money drive: Govt

Last Updated: Tuesday, July 21, 2015, 22:21

The fall in deposits by Indians in Swiss banks may be a result of the steps being taken by the government to unearth black money stashed abroad, the Finance Ministry said Tuesday.

New Credit Suisse CEO promises 'ruthlessly selective' review: Report

Last Updated: Saturday, July 4, 2015, 09:11

Newly appointed Credit Suisse AG Chief Executive Tidjane Thiam, in an interview with the Financial Times, promised a "ruthlessly selective" review of the Swiss bank`s businesses, amid expectations that the incoming CEO would cut staff by about 15 percent from its investment banking arm.

Swiss bank acts to halt franc rise as investors seek refuge in Greek crisis

Last Updated: Monday, June 29, 2015, 15:57

Switzerland`s central bank was forced Monday to intervene "in order to stabilise the markets," which have tumbled over Greece`s escalating crisis, the bank`s chief Thomas Jordan said.

Black money: Switzerland discloses more requests from India on Masoods

Last Updated: Tuesday, June 2, 2015, 22:45

Continuing to shed its famed banking secrecy veil, Switzerland Tuesday made public more names about which it has been approached from abroad for information, even as it published fresh gazette notifications about two Indians -- Sayed Mohammed Masood and Chand Kauser Mohammed Masood.

Now, Switzerland to publish list of dormant bank accounts

Last Updated: Sunday, May 31, 2015, 15:53

The Ombudsman further said that a new banking law, which has come into force this year, has mandated that "assets over 500 Swiss franc that have been dormant for 50 years, that is 60 years after the last contact, have to be published. "If, following this publication, no justified claims are reported, the assets must be liquidated and their net proceeds will be transferred to the Swiss Confederation.

Swiss accounts: Four new names public, but no Indian this time

Last Updated: Wednesday, May 27, 2015, 13:06

These included an American citizen, identified by the initials 'RK' and date of birth, Czech Republic-based H2 Medical, as also a Georgian and a Nigerian national.

Swiss accounts: India seeking details on foreign entities too

Last Updated: Tuesday, May 26, 2015, 23:12

Indian nationals are not the only ones about whom India's tax authorities have sought details from Switzerland as they have also requested for information on some foreign entities, mostly based in tax havens.

Era of tax haven has come to an end: FM on latest Swiss move

Last Updated: Tuesday, May 26, 2015, 20:50

With Switzerland making public names of some Indians with Swiss accounts, Finance Minister Arun Jaitely on Tuesday said the era of tax haven has come to an end and it is no longer safe to keep assets abroad illegally.

Yash Birla has 'no individual account' in his name, says group

Last Updated: Tuesday, May 26, 2015, 20:38

With Yash Birla's name being made public by the Swiss government in relation to an information request from the Indian tax authorities, his business group Tuesday said he has "no individual bank account in his name or under his control".