Thursday, Indian president Pratibha Patil on her visit to Switzerland signed MOU (Memorandum of Understand) related to bilateral cooperation on Financial matters with the Swiss Government. The MOU also includes exchange of tax related information.

With this MOU, “The two countries have laid foundation for fostering the financial dialogue which will include all the matters related to the growth of both economies as well as look in to the changes in the international business.”

Both countries are going to work together with in the organizations and international forums to improve their cooperation in terms of policies, financial market regulations and also work to improve the capacity to face the unforeseen difficulties.

In the latest development now India can access the information related to the money which is being deposited in the banks of Switzerland by Indians. It is known, that India has been forcing the Swiss Government to make some amendments in their bank related policies.

Responding to our request Swiss Parliament approved the bill which will helpful to unearth the black money.