"A news item has appeared today indicating an increase of money by 'Indians' in the Swiss banking system. This has led to misinformed reaction in certain circles raising a query whether the government's anti-black money steps have yielded results," Jaitley said in a blog. Noting that Switzerland in financial disclosures was always a reluctant state, Jaitley said the Alpine nation has amended its domestic laws involving all disclosures and entered into a treaty even with India and real time flow of information with regard to Indians would be made. "The flow of information is starting in January, 2019. Any illegal depositor knows that it is a matter of months before his name becomes public and he will be subjected to the harsh penal provisions of the black money law in India," said the senior BJP leader and an eminent lawyer.
