The way the SIT was taken after the Modi government came to black money, its effect is getting on one side in the country. On the other hand, the banks of the country where people kept their black money hidden around the world, the benefits of those banks have now been halfway now compared to the earlier. The condition of many of the banks there is now that they have now come to the deficit. This is due to the pressure of world-wide sliding of screening of Swiss banks.
Half of the Swiss banks’ profits
last year reduced the profit of Swiss banks to just 7.9 billion Swiss francs, which is about Rs 53,000 crore. In the year 2015, the benefits of these banks were 15.8 billion Swiss francs, i.e. about 1.06 lakh crore rupees.
According to the annual report of the Swiss National Bank (SNB), Central Bank of Switzerland, which lost 35 bank losses in Switzerland, 226 of the 261 registered banks remained in profits. But their advantage dropped. Among them, 35 banks have become deficient. The number of Swiss banks has decreased from 266 to 261 with a crack in the privacy wall. The number of employees of banks has come down. Some banks have worsened the condition. Two banks have been acquired. Three have lost the status of the bank. One has become bankrupt. One is completely closed. Only four remain in the category of big banks. These include UBS Inc., UBS Switzerland AG, Credit Suisse AG and Credit Suisse (Switzerland).
Indians made deposits in Swiss banks;
However, in Swiss banks, the total deposited amount of the customers (domestic and foreign) has increased. In 2016, the figure increased by two and a half percent to $ 1,770.6 billion. Half of the deposited deposits of Indians have remained about Rs 4,500 crore (67.6 Swiss francs). The central bank of Switzerland has now given information about the deposits of Indians themselves. By the way, the total amount of foreign billionaires in Swiss banks is Rs 96 lakh crore. The amount deposited by Indians in the year 2016 has dropped by 45 percent. In 2007, the Swiss bank deposited the amount of Indians in billions of trillions. But due to the efforts of curbing black money, it is not safe to deposit money in these banks to Indian banks. That is why Swiss banks have a huge drop in their deposits.
The big step was taken by the Modi government on Black Money
is that after the Center came to power, the Modi government, on the one hand, formed the SIT at the same time, according to its election agenda, on the other hand, the big value of five hundred thousand rupees Banning the notes was tough. It was said by the government that this step is the step taken in the direction of the emancipation of black money from the economy.
Encouraging Digital Lanterns
Not so much, to eliminate Black Money from the economy, where the government banned transactions more than fixed amount, on the other hand, the efforts of the government have been continuously promoting digitization. In such a case, it seems natural that after the campaign against black money in the country, where many Indian banks have lost their money in Swiss banks, many banks have gone into debt today.