Swiss rubbish black money estimates

Denying that Switzerland was a tax haven, Swiss authorities issued a statement saying that estimates in India about money held by Indians in Swiss banks “lack evidence”. The statement follows a comment by CBI chief A P Singh that Indians are the “largest depositors” in Swiss banks. Meanwhile, the government on Thursday said that Singh’s statement was based on the report of a Supreme Court-appointed committee on black money. “I have spoken to Singh and he told informed me about the basis of his statement,” minister of state for personnel V Narayanasamy said.