Is Congress Spreading Lies About Black Money in Swiss Banks?
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Synopsis
In a critical response to Congress’s claims of rising black money in Swiss banks, the BJP highlights an impressive decline of 80%. This article dives into the facts behind the figures, the political back-and-forth, and what it means for the Indian economy. Stay informed about the ongoing political narrative surrounding black money.
Key Takeaways
- 80% decrease in black money in Swiss banks since 2013.
- Congress accused of spreading false narratives.
- Importance of accurate financial reporting.
- Differentiation between bank debts and individual deposits.
- Political ramifications of black money allegations.
New Delhi, June 21 (NationPress) Emphasizing a remarkable 80 percent decline in Black Money in Swiss banks, the BJP on Saturday vehemently criticized the Congress for disseminating misinformation, especially as illicit deposits by Indian individuals in European banks have significantly decreased since 2013.
In a social media announcement titled ‘Fake Narrative Alert’, BJP’s National Information and Technology Department Incharge Amit Malviya revealed that in 2024, “deposits by Indian nationals amounted to 346 million Francs, which is almost 80 percent lower than the 1,656 million Francs noted in 2013.”
He accused the Congress party’s official media outlet of once again spreading falsehoods. “This time, they have distorted a report from the Swiss National Bank to inaccurately assert that black money held by Indians in Swiss banks has tripled,” Malviya stated.
“The Congress’s assertion is not only incorrect but also intentionally misleading – a strategy they have mastered over time. Let’s adhere to facts, not fake headlines,” remarked Malviya, who is also a former banker.
Disputing the Congress claims, the BJP IT cell chief clarified that the Swiss National Bank report clearly differentiates between amounts owed to Indian banks (funds Swiss banks owe Indian banks) and deposits by Indian nationals (the actual individual account holdings often linked to the Black Money debate).
He pointed out that in 2024, amounts owed to Indian banks increased from 427 million to 3,022 million Swiss Francs – a consequence of standard inter-bank transactions, not Black Money.
In response to Congress' assertion that ‘Black Money held by Indians in Swiss banks has tripled,’ Malviya emphasized that the reality is that black money deposits have significantly decreased over the past decade.
Earlier this week, the BJP had also condemned the Congress for spreading falsehoods regarding the telephonic discussion between Prime Minister Narendra Modi and US President Donald Trump.
Malviya stated on X, “Jairam Ramesh is a congenital liar — much like Rahul Gandhi.”
He criticized Ramesh, the Congress General Secretary and Communications head, for alleging discrepancies in the readouts provided by the Indian government and the US.
Point of View
It's crucial to approach this issue with a balanced perspective. The BJP's emphasis on factual reporting against Congress's claims showcases the importance of transparency and accountability in politics. Accurate data is essential for public trust, and both parties must prioritize integrity in their narratives. Our commitment remains to uphold the truth for the nation.
NationPress
21/06/2025
Frequently Asked Questions
What did the BJP claim regarding black money in Swiss banks?
The BJP claimed that black money held by Indians in Swiss banks has decreased by 80% since 2013, countering Congress's allegations.
How did Amit Malviya respond to Congress's claims?
Amit Malviya accused Congress of spreading misinformation and emphasized the importance of sticking to factual data.
What does the Swiss National Bank report indicate?
The report differentiates between amounts owed to Indian banks and actual deposits by Indian nationals, clarifying that the latter has declined significantly.
