India Ready To Sign Pact With Switzerland For Automatic Sharing Of Information On Black Money: Arun Jaitley

16 May, New Delhi

India has asked Switzerland to share information on Indians who have admitted to having accounts in Swiss banks. It also expressed readiness to sign a bilateral pact on automatic sharing of information with Switzerland.

This was conveyed by Finance Minister Arun Jaitley when the visiting Swiss Economic Affairs Minister Johann N Schneider-Ammann met him in New Delhi Friday.

Jaitley recalled that in October last year, it was agreed that if India gave additional evidence over and above the stolen information of the HSBC accounts, Switzerland will cooperate in confirming that within a time period.

The Finance Minister said, there is forward movement on the October 15 agreement between India and Switzerland on the issue of sharing information based on evidence over and above the HSBC stolen bank account list.

Commenting on the discussions with . Jaitley, the Swiss Minister said, the discussion with him was very constructive.

Swiss Economic Affairs Minister said, Switzerland government took a decision to start a Parliamentary process to qualify the basis for the support to solve these issues and it is prepared to follow the Organisation for Economic Co-operation and Development (OECD) regulations as in the past.