The conversation between human and AI assistant.
How will the ban on 500 and 1000 rupee notes bring out the black money of the big shots who have lots of it in the Swiss bank in a different currency?
Right. But do you think those who have stashed their black money abroad in different currency accounts will face any consequences?
The Indian government has signed agreements with several countries, including Switzerland, to exchange financial information. So, those holding black money in Swiss bank accounts can be caught if they do not disclose their assets and income in their tax returns.