Skip to main content

Swiss gold exports to India cross CHF 11-bn

Uncategorized Edit

Swiss gold exports to India so far this year has reached a record high level of about 70000 crore rupees, as banks in Switzerland come under greater black money scrutiny. Gold exports stood at about 15,000 crore rupees in September alone, which is double the figure for the previous month, according to latest data released by Swiss Customs Administration. The sudden spike is being seen suspiciously in the backdrop of gold being used for ‘layering’ purposes to move funds from Swiss banks.
According to banking industry sources, banks operating in Switzerland have turned wary about dealing with their Indian clients in the wake of a growing scrutiny of such accounts. A number of banks have begun telling their Indian clients to sign undertakings that are aimed at de-risking the banking institutions.
Through these de-risiking undertakings, the customer agrees to take responsibility for any possible regulatory or administrative compliance with international norms.

Comments

Post a Comment

Popular posts from this blog

Rouhani wins Iran's Presidential election Moderate cleric Hassan Rouhani won Iran's presidential election on Saturday, the interior ministry said, scoring a surprising landslide victory over conservative hardliners without the need of a second round run-off.Interior minister Mostafa Mohammad-Najjar announced on state television that Rouhani secured just over 50 percent of the ballot based on a 72 percent turnout of 50 million eligible voters. Mr Hassan Rouhani ... got the absolute majority of votes and was elected as president," Najjar said. Tehran Mayor Mohammad-Bagher Ghalibaf, a hard-line conservative, lagged behind with about 16 percent of the votes. Iran's top nuclear negotiator Saeed Jalili, he too a hard-line conservative, earned 11 percent. The voter turnout was 72.7 percent. President-elect Hassan Rohani, sixty four years old, is known as a moderate conservative. He has been stressing the need to improve ties with Western nations, and is back...
Post a Comment
20
Save Dissent to Save Democracy   THE rising instances of physical violence and threats against political opponents and the inability to accept dissent must raise huge concerns amongst all of us who see democracy as perhaps the really stellar achievement since Independence. AAP’s attack on BJP headquarters and acts of arson committed under the very noses of their elite leadership; the attacks on Arvind Kejriwal and Manish Sisodia in Gujarat in the last two days; the recent manhandling of the caretaker of journalist Siddharth Varadarajan’s house by some garden variety thugs; and the violence and threats meted out regularly to their political opponents by political parties is surely deplorable and condemnable. This is a fatally flawed trend which will destroy the very foundations of our democratic institutions if not pushed back with all the strength and condemnation that the civil society can mobilise. Replaying the past To begin with, it must be clarified that we should ...
Post a Comment
20
Discipline Virat can win WCC JUNE 24, 2019 Monsoon in day reach Lucknow Pranati- win the bronze medal M7.3 Earthquake – Banda Sea https://sagarmediainc.com/ INVITATION | LAUNCH OF “SWACHH MAHOTSAVA” CELEBRATIONS BY SH. GAJENDRA SINGH SHEKHAWAT, UNION MINISTER, JAL SHAKTI | 3.45 PM , MONDAY, 24 JUNE | VIGYAN BHAWAN, DELHI Invitation for a discussion on “Emergency: Darkest Hour in Indian Democracy” : S Gurumurthy, Chairman, VIF & Dr A Suryaprakash, Chairman, Prasar Bharti on Monday, 24th June 2019 17.30 NMML Invitation _Dr. Prabha Ravi Shankar_“G.A. Natesan (1873-1949): ‘Old and Dear Friend’ of Mahatma Gandhi”_24 June 2019_3.00pm  CPR and CSH are pleased to invite you to a workshop on ‘Whims of a Digital Boss: The Story of Insecure App-Based Workers in Delhi’ Speaker:  Akriti BhatiaTuesday, 25 June 2019, 3:45 p.m. Centre for Science and Humanities (CSH), 2, Dr APJ Abdul Kalam Road, (formerly Aurangzeb Road) What are the Priorities ...
Post a Comment
20