Black Money Abroad: 350 Accounts Assessed, 60 Cases Filed

New Delhi:  The central government has completed assessment of 350 foreign accounts while tax-evasion proceedings have been initiated against 60 account holders as part of its crackdown on black money, Finance Minister Arun Jaitley said.

Reacting to a media report that over 1,100 Indians were in the list of clients who held accounts in HSBC bank's Geneva branch from 2006-2007, Mr Jaitley said, "The details that have come out are the ones we already have."

"The question is not about names but evidences that we need. Some new names have been revealed whose veracity would be checked by authorities," he said.

He added that 60 cases have been established through an independent probe by the income tax department.

Mr Jaitley said the assessment of the balance accounts will get completed by March 31.

The Finance Minister said the government could not proceed on the "Swiss leaks" reports on the basis of some names.

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