Movement of

‘Black Money’.
To be at a safer side the recipients of the black
money moves their black income by using the
following two sources:
• By Hawala system.
• Depositing in Swiss Bank

 Fact: If the surplus amount after retaining the black money is

invested, the amount of interest earned will be more than the
annual budget of the Central government.
Hawala System.

Hawala-
-also known as hundi
-origins in classical Islamic law
-an informal value transfer system
- based on the performance and honor of a
huge network of money brokers.
- no promissory instrument

 Fact: After retaining black money even if all the taxes are
abolished, then also the Central government will be able to
maintain the country very comfortably.
Swiss Bank.
-1854 - Swiss Bank Corporation(SBC).
• 3rd largest in Switzerland with over 300 billion CHF(Converted
Swiss
Francs) of assets and 11.7 billion CHF of equity.
• 1998 - SBC merged with UBS, the largest bank in Europe and
the 2nd
largest bank in the world.
• The company's logo - three keys - “Confidence, Security and
Discretion“.
Swiss Bank.
.

 Fact: If the black money is retained the Government will

have enough money to run the country for 30 years
 Top 5 countries generating
‘Black Money’.
 INDIA $1,456 BILLION (NEARLY 76,00,000/- CRORES)
 RUSSIA $470 BILLION
 U.K. $390 BILLION
 UKRAINE $100 BILLION
 CHINA $96 BILLION

Fact: If black money is brought home and added to our

GDP of Rs 55 lakh crore our new GDP would become Rs
363 lakh crore, we will become No. 2 after USA in terms
of GDP.
Total ‘Black Money’ in
economy?
 Swiss bank revealed India has more money than
rest of the world.
 The second highest, Russia has 4 times lesser
black money as compared to India.
 U.S. is not even there in the counting in top five.
 India has more money in Swiss banks than all the
other countries combined.
Institutions to Deal with Black
Money:
 Central Board of Direct Taxes
 Enforcement Directorate
 Financial Intelligence Unit
 Central Board of Excise and Customs and DRI
 The Directorate General of Central Excise Intelligence (DGCEI)
 The Directorate of Revenue Intelligence (DRI)
 Central Economic Intelligence Bureau
 NCB
 The Central Bureau of Narcotics (CBN)
 SFIO functions under the Ministry of Corporate Affairs
 The Registrar of Companies (ROC)
 The Registrar of Societies (ROS)
 The Bureau of Immigration (BOI)
 The Economic Intelligence Council (EIC)
 The Inter-Ministerial Coordination Committee on Combating Financing of
Terrorism and Prevention of Money Laundering (IMCC)
 The National Crime Records Bureau (NCRB)
 The National Investigation Agency (NIA)
 CBI and Police Authorities