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Authenticity of figures about Indians' deposits with Swiss banks?

Reader comment on item: Still Asleep After Mumbai
in response to reader comment: Spineless and looting Indian politicians

Submitted by Kanan V. Jaswal (India), Feb 16, 2009 at 13:06

I am an ex-banker, presently doing work on Indians' beneficial ownership of bank deposits abroad. Despite my best efforts I could only get from the Swiss Bankers Association and the Swiss National Bank the domicile-wise [(i) Swiss nationals and (ii) all foreigners together, not country-wise] figures on the Custody accounts (or Managed funds). This information was not made available to me in respect of (a) savings and checking accounts, (b) time deposits, (c) portfolio investments, and (d) precious metal accounts.

I would, therefore, like to know the source of information about US$1,456 billion aggregate deposit held by Indians' in Swiss banks. If it is from the Swiss bankers Association 2005-06 Annual report or any other report of theirs, please give the relevant excerpts, preferably having scanned it.

If we have documentary proof in support of the claimed figure, we can corner the Indian government and compel it to make real efforts to recover and repatriate to India our stolen riches. It will take time, but the victory will be ours.

Submitting....

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Note: Opinions expressed in comments are those of the authors alone and not necessarily those of Daniel Pipes. Original writing only, please. Comments are screened and in some cases edited before posting. Reasoned disagreement is welcome but not comments that are scurrilous, off-topic, commercial, disparaging religions, or otherwise inappropriate. For complete regulations, see the "Guidelines for Reader Comments".

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