For 64 years, no claimant for Rs 300 crore of Indian money in Swiss banks

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New Delhi, Jul 16: For the third straight year since 2015, Swiss banks have made public a list of accounts lying dormant without any trace of owners and no claimant has come forward for those with Indian link.
As much as Rs 300 crore of Indian money continues to lie unclaimed in dormant Swiss bank accounts and nobody is claiming the amount. The money is spread across six accounts, of which three mention their place of residence as India, while one mentions it as Paris, another as London while the place of residence of the sixth is undisclosed.
These are Pierre Vachek and Bernet Rosmarie from ‘Bombay’, the earlier name of Mumbai, Bahadur Chandra Singh from Dehradun, Dr Mohan Lal from Paris, Suchah Yogesch Prabhudas from London. Kishore Lall is the person whose place of residence was not disclosed.
The date of birth has also been disclosed in one case — that is for Vachek as January 1, 1908. The accounts in question have been lying dormant since at least 1954, if not longer, as under the Swiss banking laws, only such dormant accounts details can be made public – the money may be claimed within five years of their details being made public, failing which the amount may be transferred to the government.
All these accounts were added to the public list in December 2015 and would remain there till December 2020, unless a successful claim is made for the money. As per the latest data released by the Swiss National Bank (SNB), funds parked by Indians with Swiss banks rose 50 per cent to CHF 1.01 billion (about Rs 7,000 crore) in 2017. The increase in Indians’ money in Swiss banks has already triggered a sharp opposition attack on the government, which in turn has said that it would be wrong to assume that all funds deposited in Swiss banks were ‘black money’ and strong action would be taken against wrongdoers.