M A I N   N E W S

black money
427 foreign bank account holders identified: Jaitley
Girja Shankar Kaura
Tribune News Service

New Delhi, November 26
The identity of 427 Indians holding bank accounts overseas has been established and 250 of them have admitted to having accounts, Finance Minister Arun Jaitley today said, while refuting the Opposition charges that little was being done to bring back black money.

Replying to a brief discussion on black money in the Rajya Sabha, which was marred by walkouts by almost the entire Opposition, Jaitley said: "We are committed and sincere in our efforts to identify each and every account holder. Wherever evidence is coming, we are filing prosecutions. We have done more than any other government in 100 days.”

He said the issue was not to disclose or not, but how and when to disclose the names of account holders. However, toeing almost the same line as was adopted by the previous government, Jaitley said the government would not adopt an “adventurist” policy on the issue.

“If you're suggesting to me a suicidal course, the government will not follow it," Jaitley said, while outlining the laws that bind India from disclosing the names of those having accounts abroad.

Thereafter, the Congress members staged a walkout from the Rajya Sabha.

TMC’s Derek O'Brien also staged a walkout saying: "None of the issues we brought to the fore have been discussed. We are walking out." He was soon followed by members of the Samajwadi Party and the JD(U). Jaitely said names of the illegal account holders would be made public only when evidence in accordance with the law of the foreign country would be available.

All 627 accounts on the list are at an HSBC Bank branch in Geneva and the details were secured from the French Government. The data was stolen by a bank employee, as a result of which the Swiss authorities had declined help. Jaitley said Bern had been persuaded to at least establish the veracity of any evidence that the Indian Government and the special team managed to procure from various sources regarding these accounts.