Swiss govt steps up sharing of bank info, 11 Indians get notices in a day

As Switzerland strives hard to re-establish its global financial centre position after clamping down on secrecy walls of its banks, there has been a significant surge in the number of cases where it has initiated process to share information on Indians with Swiss bank accounts and shot off letters to about a dozen such individuals last week itself. Since March, at least 25 notices have been issued by the Swiss authorities to Indian clients of Switzerland-based banks in which they have been given one last chance to appeal against sharing of their details with India.

from Times of India http://bit.ly/2HUzt31