(a) whether Chief Ministers of some of the States have urged the Union Government to bring back
the money stalked in foreign banks/financial institutions;
(b) whether Government has identified the foreign/financial institution where such money has
been deposited;
(c) whether Union Government has taken up with the foreign bank/countries, the imperative need
to lift the secrecy clause and part with the privilege information; and
(d) if so, the reaction of the Government thereto?
MINISTER OF STATE IN THE MINISTRY OF FINANCE(SHRI S.S. PALANIMANICKAM)
(a): Yes, Sir.
(b): There are no authentic details of foreign/financial institutions where black money has been
deposited by Indian nationals.
(c) & (d) : Government has intensified its efforts to negotiate/re negotiate Double Taxation
Avoidance Agreements (DTAA) having an article on exchange of information through which tax
related information, including banking information, can be obtained from foreign countries
for appropriate action under the Indian tax laws.