Indians have '$500 bn stashed in tax havens'
- Published: 13/02/2012 at 09:32 PM
- Online news: World
Rich Indians have stashed away almost $500 billion of illicit money abroad, parking the funds in countries considered the "least corrupt", the country's top police agency said on Monday.
A money changer counts US dollars at a foreign exchange counter in Bangalore. Rich Indians have stashed away almost $500 billion of illicit money abroad, parking the funds in countries considered the "least corrupt", the country's top police agency said on Monday.
The issue of so-called "black money" has been a major political headache for India's government, which has faced pressure from corruption activists and political opponents to do more to claw back money held abroad.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
About the author
- Writer: AFP News agency
- Position: Agence France-Presse
Latest stories in this category:
- UN Council condemns Syria government over massacre
- India rupee woes highlight economic drift
- Indian PM meets Myanmar president
- Cannes crowns 'Love' as Europe sweeps awards
- San Franciscans celebrate anniversary of Golden Gate Bridge
- Two monks 'self-immolate' in Tibet
- IMF chief riles Greeks as crisis election looms
- Nepal faces months of instability after talks fail
