how much indian black money in swiss bank

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Disha nagpal asked 18-Aug-2020 in History, Politics & Society by Disha nagpal

how much indian black money in swiss bank

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Anonymous User answered 18-Aug-2020 by Anonymous User

how much indian black money in swiss bank

Money earned by illegal means is called black money or black money. The taxable wealth that is not taxed also falls in the category of black money.  The amount raised by using illegal means and resources and hence is called black money.

According to the Economic Times report dated 28 June 2018 the level o Indian black money in Swiss banks rose than 7,000 Cr INR. It had seen a saw off more than 50%.  The amount is more than $1 billion USD and shows why swiss banks are still the perfect place for stashing money in. The total amount which was classified was more than 1.6 trillion (CHF or swiss franc) that is around 100 lakh crore INR + mark. 

As of 2020, according to the average of various sources (online as well as offline), we can state that it is more than 350 lakh crore which involves the unaccounted money of not only business tycoons but those terrorists, NRIs working against the nation, smugglers, technocrats, political organizations, mafia families and others.