Swiss Bank Robbery

Swiss bank is the term which we hear at the time of elections and no one talks about it once the elections are done. But this time BJP seems to be bringing up this issue in a big way. Advani had earlier written about this to PM but didnt get a proper reply. So now he seems to have advised all the state government CM's where NDA sthe government to write to PM to make him talk about it in the G20 summit.

So what is in a Swiss bank system and how is it affecting us? There are plenty of Swiss banks like UBS and Credit Suisse that operate under the Swiss law with bank secrecy policy. Swiss secret accounts are like any other accounts except that no one other than the account holder has access to the account.

Especially, the government of the country wont have access to it. Specifically the laws of the swiss banks are defined so as to attract black money. Since there is no tax on the income and government wont have access to it, nobody will get a sniff of the money deposited there.

Swiss banks take away wealth from us and therefore they have to be penalized for investing into our markets. That is just common sense. The question to be addressed is why the government has given the FII status to these banks? By approving aren’t we encouraging more citizens to invest in Swiss banks, which is like our competitor? Providing FII/FDI status to Swiss banks is like slapping our own face. We are letting our own wealth to enter through back door.

Since the issue is raised by political parties now its left to us citizens and mainly the media to keep the issue alive and bring back our money back to our country.

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