Reports have come in the media that the statement of the Government that names of holders of black money accounts in Swiss and other foreign banks will be made public after filing charge sheets seems to have created some panic to the involved account holders. The Swiss Banks are also worried, since any such exposure would harm them.
As per reports, the Swiss Banks are advising their clients to close such accounts or to divert the money from the banks. Another method is by purchasing gold and smuggling to India. It seems that the second option is already being implemented. The yellow metal worth more than Rs. 70,000 crore has already left for India, according to Swiss authorities. The catching of gold biscuits in kilos in many airports in India is an indication of the same.
Whether the Government is watching and taking necessary action to curb the smuggling as also the unaccounted money account holders? Or whether the government will succumb to the high decibel pressures of the corrupt politicians (both Congress and BJP) and the big business houses? Let us wait and see.