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Switzerland provides first tranche of Indians’ accounts in Swiss banks

In a significant milestone in fight against black money stashed abroad, India received the first tranche of details about financial accounts of its citizens in Swiss banks.

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In a significant milestone in the fight against black money suspected to be stashed abroad, India has received the first tranche of details about financial accounts of its citizens in Swiss banks under a new automatic exchange of information (AEOI) framework between the two countries, said media reports.

India is among 75 countries with which Switzerland’s Federal Tax Administration (FTA) has exchanged information on financial accounts within the framework of global standards on AEOI, an FTA spokesperson told PTI.

This is the first time that India has received details from Switzerland under the AEOI framework, which provides for exchange of information on financial accounts that are currently active as well as those accounts that were closed during 2018.

The next exchange would take place in September 2020, the spokesperson added.

The FTA had earlier been reported to have stated that “several dispatches might be necessary” in the case of India, giving an indication of the volume of details to be shared with Indian tax authorities of all Indians with bank accounts in Switzerland as of 2018 beginning.

In 2018, data from Zurich-based Swiss National Bank (SNB) had shown that after declining for three years, money parked by Indians in Swiss Banks rose 50 per cent to CHF (Swiss Franc) 1.02 billion (Rs 7,000 crore) in 2017 over the previous year, reported The Indian Express.

A large portion of the first tranche of data relates to accounts that have been already closed due to fear of action.

It can, however, still establish a strong prosecution case against those who had any unaccounted wealth in those accounts, bankers and regulators said.

The data provides entire details of the entire flow of funds to and from all the accounts that were active even for a single day in the year 2018, bankers said. Hence, deposits and transfers as well as of all earnings including through investments in securities and other asset classes can be examined, they said.

The first tranche relates mostly to businessmen, including non-resident Indians now settled in several South-East Asian countries as well as in the US, the UK and even some African and South American countries, PTI had earlier quoted regulatory officials as saying.

They admitted there was a huge outflow from these accounts in the last few years after a global crackdown began against the so-called high-secrecy walls associated with the Swiss banks and several of these accounts got closed.

Besides, there are at least 100 cases of older accounts held by Indians, which might have been closed before 2018, for which Switzerland is in the process of sharing details with India under an earlier framework of mutual administrative assistance as Indian authorities had provided prima facie evidence of tax-related wrongdoings by those account holders.

These relate to people engaged in businesses like auto components, chemicals, textiles, real estate, diamond and jewellery, steel products etc. Regulatory and government officials said the special focus of the analysis of the Swiss bank data could be on identifying people with political links.

A Swiss delegation was in India in August before the first set of details could get shared under the new automatic information exchange, while the two sides also discussed possible steps to expedite execution of tax information sharing requests made by India in specific cases and enhancing of collaboration in offshore tax compliance matters.

The exchange of information is being carried out under the Common Reporting Standard (CRS), the global reporting standard for such exchange of information, which takes care of aspects such as confidentiality rules and data safeguards. The CRS has been developed by the Organisation for Economic Cooperation and Development (OECD).

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Over 5,000 tribals join BJP in Assam’s Goalpara ahead of elections

More than 5,000 tribals, largely from the Garo community, joined the BJP in Assam’s Goalpara district during a large-scale ST Morcha programme ahead of elections.

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Hemanta Sharma

More than 5,000 members of tribal communities formally joined the Bharatiya Janata Party (BJP) at a large-scale event held in Assam’s Goalpara district on February 25, weeks before key elections.

The joining programme was organised by the BJP ST Morcha, Assam Pradesh, at the Agia School playground. The event was conducted under the leadership of Riya Sangma, State Secretary of BJP ST Morcha and in-charge of the Goalpara ST Morcha.

Party leaders said the programme witnessed strong participation, particularly from the Garo community, describing it as a significant political development in the district.

The chief guest at the event was Samir Oran, National President of BJP ST Morcha and outgoing Member of Parliament (Rajya Sabha). Among those present were Bijuli Kalita Medhi, MP from the Guwahati Lok Sabha constituency, Ravindra Raju, Horen Singh Bey, who serves as State President of BJP ST Morcha, and other party leaders.

Goalpara district has traditionally seen strong influence from opposition parties, especially the Congress. Tribal voters in the region have largely remained divided, making the large-scale induction ahead of elections politically significant.

Addressing the media, Samir Oran said the BJP has brought a new phase of recognition and opportunity for tribal communities across the Northeast. He stated that the joining programme reflected growing trust among tribal populations in the party.

Riya Sangma said many tribal communities, particularly members of the Garo community, had earlier felt deprived of adequate respect and development benefits. She added that the participation of over 5,000 people demonstrated confidence in the BJP’s leadership.

Dipankar Nath, BJP Goalpara District President, termed the development a “game-changer” for the constituency. He said the party remains committed to the welfare, development and dignity of tribal communities.

Party leaders expressed confidence that the induction drive would strengthen the BJP’s organisational base in Goalpara and nearby areas ahead of the upcoming polls.

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PM Modi crosses 100 million followers on Instagram, first world leader to achieve milestone

Prime Minister Narendra Modi has crossed 100 million followers on Instagram, becoming the first world leader to achieve the milestone and widening the gap with global counterparts.

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Prime Minister Narendra Modi has become the first world leader and politician to cross 100 million followers on Instagram, marking a significant moment in global political communication.

Having joined the platform in 2014, the Prime Minister has steadily built one of the most followed political profiles worldwide. Over the past decade, his Instagram account has featured updates on official engagements, international visits, public outreach programmes, cultural highlights and personal moments, helping him connect with a broad and diverse audience.

With 100 million followers, PM Modi now ranks first among world leaders on Instagram. His follower count is more than double that of US President Donald Trump, who stands at 43.2 million followers.

Other prominent leaders remain considerably behind in comparison. Indonesian President Prabowo Subianto has around 15 million followers, Brazilian President Luiz Inacio Lula da Silva has 14.4 million, Turkish President Recep Tayyip Erdogan has 11.6 million, and Argentine President Javier Milei has 6.4 million followers.

Notably, the combined follower count of the next five major global leaders remains lower than PM Modi’s individual tally, highlighting the scale of his digital outreach. Observers note that his presence on Instagram resonates strongly with younger users in India and abroad, reflecting the growing importance of visual and interactive platforms in political engagement.

Wide gap within India’s political space

The Prime Minister also maintains a substantial lead over other Indian political figures on Instagram. Uttar Pradesh Chief Minister Yogi Adityanath has around 16.1 million followers, while Congress leader Rahul Gandhi has approximately 12.6 million followers.

The gap underlines PM Modi’s dominant position on social media among domestic political leaders.

The milestone reflects a broader global trend of political leaders increasingly using platforms like Instagram to communicate directly with citizens, share governance updates, and expand public engagement beyond traditional media channels.

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MK Stalin predicts frequent PM Modi visits to Tamil Nadu before assembly election

MK Stalin has said Prime Minister Narendra Modi will visit Tamil Nadu more often ahead of the Assembly election, calling the tours politically motivated and questioning the Centre’s support to the state.

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MK Stalin

Tamil Nadu Chief Minister M. K. Stalin has predicted that Prime Minister Narendra Modi will increase his visits to the state as the Assembly election, expected in April or May, draws closer.

Speaking ahead of the polls, the DMK president said the Prime Minister has already begun touring Tamil Nadu and is likely to visit frequently in the coming months. He claimed that such visits could create discomfort within the BJP-led National Democratic Alliance (NDA), as alliance partners may fear the political impact of repeated appearances.

Stalin calls visit politically motivated

The Chief Minister described the Prime Minister’s scheduled programmes in the state as “politically motivated”. PM Modi is set to attend various events in Madurai in southern Tamil Nadu, including the inauguration of the first phase of the AIIMS hospital project. He is also expected to visit the Thiruparankundram Temple amid the Karthigai Deepam-related controversy and participate in a public meeting organised by the NDA.

Stalin said he has been working for all sections of the population, including those who did not vote for his party. In contrast, he remarked that some leaders are visible in the state only during election time and increase their visits as polls approach.

Criticism over Union Budget allocations

The DMK leader also criticised the BJP-led central government, accusing it of neglecting Tamil Nadu. He pointed out that while approval was recently granted for the Gujarat Metro project, there were no major announcements or allocations for Tamil Nadu in the Union Budget.

Stalin asserted that voters would remember the lack of significant measures for the state. He framed the upcoming election as a contest between Tamil Nadu and the NDA, stating that the state should be governed from Fort St George in Chennai rather than from Delhi.

The ruling DMK is currently allied with several smaller parties and, at present, the Congress, as it seeks a third consecutive term in office. Its principal rival, the AIADMK, is aligned with the BJP as part of the NDA.

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