Posts Tagged 'iimb'

Scrap FCRA and Save the Republic


Normally reticent and mild mannered Manmohan Singh in an interview to Science magazine during February mentioned that American NGO’s are funding the protests against Kudankulam nuclear plant. He also blamed protests against genetically modified crops on groups which were funded from the US and Scandinavian countries.

He said that “they are not fully appreciative of the development challenges that our country faces” . This is a major revelation coming from the PM and unfortunately our media which is frenzy or agenda driven has not fully comprehended the dimensions of the issues raised by our PM. Let us understand the nature of the threat posed by these NGOs or WMD’s –Weapons of Mass Destruction – to our republic and the need to stem the rot here and now.

Among the largest members of the Indian economy is the NGO sector or what is known as the Third Sector or Civil Society (other than government and private) in academic circles.

Two important criteria are that they should be independent from government and organizations not meant for making profit. But many get money from the government or from foreign governments. The type of activities they are involved is mind-boggling which can extent from “aging issues” to “corruption” to “human rights” to “waste management”. Many of them call themselves “Civil Society” and involve in socio-political activities even though they do not directly participate in the electoral process. Many are Church-related organization and others involve in human rights issues as a civil society organization. The funding for many of these civil society groups is substantially international.

Before we proceed let us look at some numbers.

The international flow of funds is regulated by the Foreign Contributions Regulation Act [FCRA Act] of the Central Government which the ministry of home affairs has re-formulated now. In the period from 2001 to 2010 [ 9 years] such organizations received more than Rs 70000 crore and in the year 2009-10 [of which data is available] it was Rs 10338 crore

Salient Features for the year 2009-2010 [ year for which latest data is available]

Its salient features are as below:

I. A total of 38436 Associations have been registered under the Foreign Contribution (Regulation) Act up to 31.3.2010. During the year 2009-10, 2022 Associations were granted registration and 388 Associations were granted prior permission to receive foreign contribution.

II. 21508 Associations reported a total receipt of an amount of Rs.10, 337.59 crore as foreign contribution.

III. Among the States and the Union Territories, the highest receipt of foreign contribution was reported by Delhi (Rs. 1815.91 crore), followed by Tamil Nadu (Rs. 1663.31 crore) and Andhra Pradesh (Rs. 1324.87 crore).

IV. Among the districts, the highest receipt of foreign contribution was reported by Chennai (Rs. 871.60 crore), followed by Bengaluru (Rs. 702.43 crore) and Mumbai (Rs. 606.63 crore).

V. The list of donor countries is headed by the USA (Rs. 3105.73 crore) followed by Germany (Rs. 1046.30 crore) and UK (Rs. 1038.68 crore).

VI The list of foreign donors is topped by the Gospel For Asia Inc, USA (Rs. 232.71 crore) followed by the Fundacion Vicente Ferrer, Barcelona, Spain (Rs.228.60 crore) and the World Vision Global Centre, USA (Rs.197.62 crore).

VII. Among the Associations which reported receipt of foreign contribution, the highest amount of foreign contribution was received by the World Vision of India, Chennai, Tamil Nadu (Rs.208.94 crore), followed by the Rural Development Trust, Ananthapur, A.P. (Rs.151.31 crore) and Shri Sevasubramania Nadar Educational Charitable Trust, Chennai, T.N. (Rs. 94.28 crore).

VIII The highest amount of foreign contribution was received and utilized for Establishment Expenses (Rs. 1482.58 crore), followed by Rural Development (Rs. 944.30 crore), Welfare of Children (Rs. 742.42 crore), Construction and Maintenance of school/college (Rs.630.78 crore) and Grant of Stipend/scholarship/assistance in cash and kind to poor/deserving children (Rs. 454.70 crore).

(We have provided some salient statistics from the Home ministry web site in Tables 1 to 5- See Appendix)

Some important observations.

Establishment expenses consist of buying land, buildings, jeeps, setting up offices, mobiles, laptops, cameras, salaries, consultancy fees, honorarium, and foreign travel etc., constituting nearly 50 % of the expenses and in some cases as high as 70%. This goes against the grain of service motto where the ultimate recipient is supposed to get the maximum. Now, such organizations even recruit “executives” from management institutions. Most of the top recipients are Church or Church related organizations. They use the funds for service as well as religious purposes.

However, they are not covered by Right to Information Act as they are not part of Government. For instance, this writer has tried unsuccessfully to get the annual accounts from the web site of the top 25 recipients, many of whom are often reported in newspapers and TV and stressing the importance of “transparency” in the functioning of the government. Many do not have any information on their web sites. Some of the web sites contain nothing on finances. These Civil society groups who day in day out harangue us on TV talk shows about transparency and disclosures for the government and corporate sector etc., should practice what they preach

There is a long list of illustrative programmes /activities to be carried out by these associations receiving foreign contributions. This is given in the Home Ministry web site.

More importantly the amended act suggests that acceptance of foreign contributions should be within the broad parameters as listed in the appendix 1

We have provided in Appendix 1 to 4 some salient aspects of the act including a paltry punishment for violating the act.


Nature of Use of Funds:

Significant portion of the received funds are used for ‘Establishment Expenses” which is against the basic cannon of charity work. It is expected that Charity involves lesser fixed assets creation particularly of the flamboyant nature. Also the jet setting aspect of the NGO’s provide clues to the nature of expenditure. Whether it is New York or Geneva we find members of Indian NGO community lobbying for some cause mostly of human rights. This creates a closed loop wherein they receive money to further some agenda and for that they receive more money

Religious Conversion:

Large amount of funds go to Christian organizations whose purpose is conversion. This act of “soul harvesting” or “planting of the Church” is an anachronistic practice of nineteenth century which is totally incongruous in the twenty first century where faith based political movements like the Church movements are disappearing from Europe their cradle of growth. Europe which has given up on the Church is trying to overcome its guilt by exporting Christianity to India. The recipient organizations may argue that they are serving poor but do they need European money to serve Indian poor.

Also some organizations like World Vision appear to be secular or non-denominational in India. But the fact of the matter is that is Christian in origin and membership. This has been affirmed by the Supreme Court of USA. We can take them as a representative example wherein they do not mention much about their exclusive Christian identity when campaigning for funds within India

To quote from their website

History of our Christian identity

World Vision was founded 60 years ago as a Christian humanitarian organization. Motivated by our faith in Jesus Christ, World Vision’s work with the poor and oppressed is a demonstration of God’s unconditional love for all people.

As a Christian organization, World Vision has virtually the same Statement of Faith included in its September 1950 articles of incorporation. While about 20 percent of our worldwide staff are of other faiths, all prospective staff at World Vision U.S. are required to sign that Statement of Faith or, as an alternative, the Apostles’ Creed.

Far from being narrow in scope, the Apostles’ Creed and World Vision’s Statement of Faith reflect the basic theological beliefs shared for millennia by the vast majority of orthodox Christian traditions — Roman Catholic, Mainline Protestant, Pentecostal, evangelical, or Orthodox.

Issues of the current court case

The issues at the center of the Spencer case — the plaintiffs’ denial of the Trinity and the divinity of Jesus Christ — are central to Christianity. By definition, a Christian believes that Jesus Christ is the only son of God. World Vision believes one can be a good person, a moral person — even a religious person — without believing this. But World Vision believes that one cannot be a Christian unless one can confess, as the Apostle Peter did in Matthew 16:16 (NIV), “You are the Christ, the Son of the living God.”

To be clear, we hire Christians, imperfect and flawed, not because we think they are superior, but because we believe that any real success will come only through the presence of Christ in each employee’s heart and His power through prayer in each staff member’s mind and hands.

The plaintiffs in this case signed the Statement of Faith when they were hired, but later changed their core beliefs. It was only when these staff members stopped attending World Vision’s weekly chapel services and instead began alternative worship and study sessions at work that the change in their beliefs became obvious. We regret the departure of our former colleagues, and we pray they have been able to find areas of humanitarian service that are compatible with their new beliefs.

Hiring people of shared beliefs

World Vision believes that staff commitment to core Christian beliefs as we understand them from the Bible is essential for maintaining our Christian identity. Organizationally, our humanitarian work is done as a reflection of — and an extension of — our Christian faith. We represent Christ in our work.

Hiring people of shared belief is a common practice among charitable institutions, many of whom receive federal funding. A non-profit that advocates for animal rights, for example, would be unlikely to hire a hunter or a non-vegetarian. An environmental organization is unlikely to hire a global warming skeptic. Non-profit organizations are defined by their core mission and motivation. To hire those uncommitted to that mission would be to undermine the organization

Who we are and how we serve

World Vision has worked hard to be clear with our donors in our communication and transparent about our Christian identity. We do not want to take donations under false pretences.

Similarly, World Vision always identifies itself as a Christian organization in the communities where we serve, including many where there are few, if any, Christians. World Vision works in many countries where the majority of people follow another religion, including some areas where Christian teaching is not welcome. In all cases, we respect the local culture and abide by local laws.

World Vision is a signatory to the Red Cross Code of Conduct and does not proselytize. That is, we never require aid recipients to listen to a religious message as a condition of our help, nor do we use aid as an inducement for recipients to change religion. We also never discriminate on the basis of religion in giving aid; we serve every child in need that we possibly can, of any faith or

Our staff worldwide

More than 80 percent of World Vision’s 40,000 staff members worldwide are Christian.

We work in some countries where there are few Christians with the needed professional qualifications, and in some where it is illegal to hire only Christians. However, in each of the nearly 100 countries where World Vision works, our leadership is Christian.

Federal law

In the United States, nearly 50 years of federal law has guaranteed that faith-based organizations can consider religion in hiring staff. The 1964 Civil Rights Act explicitly allows religious preference in employment by any “religious association, corporation, educational institution or society.”

Similarly, Congress has never said that faith-based organizations lose their hiring rights if they receive federal grants. Neither have the courts. In 1987, the Supreme Court ruled unanimously that religious hiring rights do not violate the Constitution’s ban on government preference for religion.

The above mentioned quote highlights the dubious role played by mainly religious organizations presenting themselves as social or secular organizations in our context but receiving massive funds for global Christian activities

Not only that, we also finds that the Government of India involves mainly Christian organizations for carrying out their social agenda about Aids or reducing TB. Lets take another instance.The Organizations that currently comprise the National TB Consortium India are the Adventist Development Relief Agency (ADRA), Damien Foundation India Trust (DFIT), German Leprosy and TB Relief Association (GLRA), LEPRA Society, PATH India, Project Concern International (PCI) India, TB Alert India and World Vision India

We do not find Rama Krishna Mission or that of Amritanandamayi in these government funded endeavors

The power of the Converting Lobby

The planting of the cross [conversion] among the poorer and weaker segments creates social tensions. If a girl gets converted then her parents and siblings are impacted giving raise to family and social tensions. But if even SC points this out there is a furore and the court is asked to erase it from its records.

How much the power of the church and its lobbies has spread far and wide is illustrated by the Supreme Court altering the wordings in its judgment in the famous Dara Singh Case

In the supreme Court of India-Criminal Appellate Jurisdiction.Criminal appeal nb. 1366 of 2005 Rabindra Kumar Pal @ Dara Singh …. Appellant(s) Versus Republic of India…. Respondent(s) with Criminal appeal no: 1259 of 2007 And Criminal appeal nos: 1357-1365

Its original verdict, the apex court observed, “the intention was to teach a lesson to Graham Staines about his religious activities, namely, converting poor tribals to Christianity. All these aspects have been correctly appreciated by the High Court, which modified the sentence of death into life imprisonment with which we concur”. This was later modified as, “more than 12 years have elapsed since the act was committed, we are of the opinion that the life sentence awarded by the High Court need not be enhanced in view of the factual position discussed in the earlier paras.”

Secondly, the sentence, “It is undisputed that there is no justification for interfering in someone’s belief by way of use of force, provocation, conversion, incitement or upon a flawed premise that one religion is better than the other” (the meaning of the constitutional principle of equality of faiths and non-discrimination in matters of religion) was replaced by “There is no justification for interfering in someone’s religious belief by any means”.

The facts are as follows: while upholding the life sentence on Dara Singh, main accused in the Staines murder case, Justices P. Sathasivam and B.S. Chouhan observed that the murder had taken place in an atmosphere that had been poisoned by the conversion activism of foreign missionaries in that part of Orissa. They said in their judgment pronounced in open court:

 “It is undisputed that there is no justification for interfering in someone’s belief by way of use of force, provocation, conversion, incitement or upon a flawed premise that one religion is better than the other.”

However, our two Supreme Court judges, proved even more nimble-footed than what John Dayal and company had expected. The original judgement was pronounced on 21 Jan. (a Friday), and the cacophony orchestrated by the Christian lobby started straightaway, reaching a crescendo during the weekend and on the following Monday.

On 25 Jan. (Tuesday), Sathasivam and Chouhan re-opened the matter in open court and announced the deletions / changes. There are some reports that the counsels for the two parties (the State and Dara Singh) were given notice to attend, but this is not verifiable as yet. What is certain is that there was no application for a Review Petition or any other form of legal representation before the two judges, asking them to reconsider their observations already on record. It was a suo motu act by the two judges. Clearly, Dayal and his cohorts would have been delighted and overjoyed with the supersonic speed of the two judges and their commendable powers of foresight and anticipation.

What can possibly account for this change of mind and heart? Divine intervention, a hyperactive conscience? Impossible to pinpoint, for mere mortals. What happened was the observations quoted above (“It is undisputed that there is no justification for interfering in…) were deleted / expunged and replaced by the platitudinous and ambivalent sentence, “There is no justification for interfering in someone’s religious belief by any means.” This piece of pontification has no judicial import at all, either in the case under discussion or in general. All that can be said is that the somersault of this Bench in this case will be debated for quite some time.

The above mentioned example shows that the power of Church for converting religion has been made in to a major fundamental right and it is supported by Global funds. We would like to point out that the right to convert does not include the right to convert using foreign money.

We also find that from the point of funding as well as conversion activities the so called “New Age or Evangelical” or “born again Christians” are much more active compared to the traditional Catholic or Protestant churches of India. Of course this needs another article.


Seminar on Towards a New Paradigm of Business Management

Bangalore Chamber of Industry & Commerce

Presents a Seminar
Towards a New Paradigm of Business Management
Alternative Perspectives from
Ancient Indian Wisdom

12th December 2009, Saturday @
Indian Institute of Management Bangalore
Bannerghatta Road Bangalore 560 076


Globally, corporate entities are in a melting pot. On one hand they face serious challenges of growth and sustainability. On the other hand, several intra-firm challenges remain despite evolution in man¬agement theories and practice. Creating “high performing or¬ganizations” that can be proud of nurturing highly inspired and self-driven individuals who can manage sustainable institutions that can harmoniously exist with the natural eco-system and at the same time enjoy quality of work life as well as personal life still remain a distant dream.

Today, India has caught the attention of global business for its mar¬ket, services, people, and products. It is an appropriate time to ask “Can India leverage this global attention to help the corpo¬rate world with a new paradigm of corporate governance and management?” Indian Tradition has considered “Dharma” as the pivot of all human endeavor. Enterprises and organizations were successfully run on the basis of Dharma in India. Kingdoms of Janaka, Rama, Yamahas, Yudhishtira down to Hakka and Bukka and Krishna Deva Raya, ran such large public enterprises.

The philosophical part of Dharma has been discussed in various scriptures and the operative part has been enunciated in various Smrithis, the two epics and texts such as Bhagavadgita. Collec-tively, the scriptures have covered various aspects of enterprise management including the management of people and relationships. One of the distinguishing aspects of our tradition has been that the earth, environment and the entire cosmos have been treated as an intrinsic and integral part of all systems, including business enter¬prises. As a result, environmental and sustainability issues became an integral part of the approach.

The seminar provides a forum for discussion on these issues. It specifically seeks to focus on the following aspects of interest to to¬day’s corporate leaders and business managers:
• What are the fundamental problems that business entities face to¬day?
• Is there an overarching framework that we can develop from the ancient Indian wisdom that would help us construct alternative per¬spectives to address these problems?
• Are there some specific ideas from our scriptures that may be of interest to today’s business?
• Are there any attempts by some of our industry leaders to borrow ideas from ancient Indian wisdom? What has been the experience and what do we have to learn from these?

Invited Dignitaries (Partial List)

Mr. H R Nagendra,
Dean Svyasa former space scientist at NASA, established the internationally famous Vivekananda Kendra Yoga Re¬search Foundation (or V K YOGAS)

Prof B Mahadevan,
Dean, IIM Bangalore ,has more than 15 years of experience in teaching, Specialized in sourcing, supply and Manufac¬turing management.

Dr. Shatavadhani R Ganesh,
Scholar, has a deep and intimate knowledge of various forms of Indian classical music, He has also served as the Director of Sanskrit Department in the Bharatiya Vidya Bha¬vana, Bangalore. He has worked with the Jain International Residential School in Bangalore.

Dr. T V Subramanian,
Chairman, Education committee CII Institute of Logistics Faculty, IFMR, Chennai; Chairman Board of Studies; Visiting Professor; management consultant from Chennai

Mr. Anant Koppar,
CEO, K2 Technologies, He has Successfully worn many hats and is a recognized achiever in Academia (PMI Bangalore Chapter), Technocrat (recognized Indian IT leader), Busi¬nessman.

Mr. K R Girish,
President,BCIC/Partner BSR & Co.

Prof Narahari,
Head of Computer Science and Automation Dept IISc,The focus of his current research is to apply Game Theory and Mechanism Design to Internet and Network Economics

Prof S K Sinha,
Associate Professor, Centre for electronics design and tech¬nology, IISc

Mr. T R Parasuraman,
Sr. Vice President, HR /IS Toyota Kirloskar Auto parts Pvt Ltd. Chairman, Industry & Manufacturing expert committee BCIC

Dr. S Shamasundar,
Yugayatri/Managing Director ProSIM R&D Pvt Ltd

Prof C Manohar Reddy,
Professor OB & HR Management , IIM Bangalore


Yugayatri is a non-profit trust working for promotion and adaptation of Indian culture in contemporary life and practices. Yugayatri has conducted several workshops and training programs for benefit of working professionals, students, and academics. Yugayatri has con¬ducted research on science technology heritage and published exten¬sively. Yugayatri has executed projects from DRDO, IGNCA, ISRO, Karnataka Govt, Rajiv Gandhi Health University, Tirupathi University, Rashtriya Samskrita Prathishtan, and so on. Yugayatri is developing a theme park based on Ramayana on Bangalore-Mysore Road near Sriranga Patna.

Registration Details

Registration forms can be downloaded from Please send the duly filled application forms to YUGAYATRI address along with the registration fee. Cheques and DD’s should favour ‘Yugayatri’ pay-able at Bangalore.

Registration fee:
Industry -Rs.500/- Student-250/-

For More Details Contact :
G R Santhosh—9448891472
Nethra— 9972304445

About BCIC:

Bangalore Chamber of Industry and Commerce (BCIC) is the apex Chamber of Industry and Commerce in the State of Karnataka representing large and medium industry. The Chamber’s member¬ship represents 95% of the capital investment and 90% of the la¬bour employed in the State of Karnataka. BCIC, at present, has a membership of around 650 Leading companies like Infosys, Wipro, Cisco, Biocon, ITC, Toyota, ABB, BOSCH, Bharti Telecom, TVS, L & T , KPMG, PwC, Deloitte to name a few, are members of BCIC.BCIC plays an active and important role in promoting trade and invest¬ment in the State and has an excellent domestic and international network with MoUs with the leading Chambers of Commerce across the globe. BCIC organizes seminars / workshops and interactions with Government Officials on critical issues concerning trade and industry from time to time.

Registrations are done on first come, first served basis

Contact Details

21/B, 9th Main,
Shankar Nagar, Mahalakshmi puram,
Bangalore – 560 096
Fax : +91 080 23323304
Email :,

Please find the attached registration form & programme schedule

“Coming together is a beginning. Keeping together is progress. Working together is success.”

‘Indian money in Swiss & other banks is over Rs 70 lakh crore’

‘Indian money in Swiss & other banks is over Rs 70 lakh crore’
Vivek Kaul
Wednesday, April 1, 2009 2:41 IST
Mumbai: It is no secret that black money has been flowing out of the country into Swiss banks and other tax havens worldwide for years now. While there is no official estimate to quote yet, LK Advani, the prime ministerial candidate of BJP-led National Democratic Alliance, recently said it might be in the range of Rs 25,000 crore to Rs 75,000 crore. R Vaidyanathan, professor of finance at the Indian Institute of Management, Bangalore and a regular columnist for DNA, feels the real figure is many times that number.
At around $1.4 trillion (over Rs 70 lakh crore), it is way over India’s gross domestic product of Rs 43 lakh crore for 2007-08, Vaidyanathan, who was on Tuesday named the head of a taskforce by Advani for preparing a strategic document to get back the national wealth, told DNA. Excerpts:

Which are the various tax havens where the ill-gotten wealth of Indian businessmen and politicians is stored?
There are presumably more than 70 tax havens in the world. Indian wealth could be more in Switzerland and various British/ US islands.

How much Indian money do you think would be locked away in Swiss banks? What is the basis for the estimate you make?
I make this estimate on the basis of a report titled “Illicit Financial Flows from Developing Countries: 2002–2006, Global Financial Integrity,” written by Dev Kar and Devon-Cartwright Smith. It was a project sponsored by the Ford Foundation and the final report was released sometime back in December 2008.
Financial flows in the context of this report include proceeds from both illicit activities such as corruption (bribery and embezzlement of national wealth), criminal activity, and the proceeds of licit business that become illicit when transported across borders in contravention of applicable laws and regulatory frameworks (most commonly in order to evade payment of taxes).
In 2006, the most recent year of the Global Financial Integrity (GFI) study, developing countries lost an estimated $858.6 billion to $1.06 trillion in illicit financial outflows. Even at the lower end of the range of estimates, the volume of illicit financial flows coming out of developing countries increased at a compound rate of 18.2% over the five-year period analysed for the study.

How much of this was siphoned out of India?
On an average, for the five-year period of this study, Asia accounts for approximately 50% of overall illicit financial flows from all developing countries. This report shows that the average amount moved from India annually during 2002-06 is $27.3 billion. This means, during the five-year period, the amount taken away is $27.3 billion x 5 = $136.5 billion.
It is not that all these amounts went to Swiss banks; it has gone to different tax and secret shelters. The share of Swiss banks in this dirty money is a third of the global aggregate; some $45 billion out of the 136.5 billion stashed away from India would have been hoarded in these years in Swiss banks. This appears in page 30 of the report mentioned above.
The important point is that this is only for five years. More amounts were stashed away during the Nehruvian socialist regime. So the loot for 55 years would be several times the amount. In fact, in those days, the Indian rupee commanded a better value per US dollar, so fewer rupees could get a dollar. Hence the estimation that Indian money stashed away may be of the order of $1.4 trillion.

How did the money get out?
There are several methods/ reasons — under-invoicing/ over-invoicing of exports and imports and getting the balance stored abroad; kickbacks from major defence/ civilian contracts; in the olden days, smuggling of gold and illegal money; transactions done abroad and not reported here; hawala funds; funds earned by artists/ entertainment industry/ sports people and stashed away abroad, etc. When you want to indulge in adharma, hundred ways are open.

Do you feel international terrorist organisations use the tax-haven route to send across money to finance their nefarious activities?
Even our national security advisor, M K Narayanan, has spoken about it in Berlin.
You recently wrote, “Under pressure from federal authorities, Swiss bank UBS is closing the hidden offshore accounts of its well-heeled American clients, potentially allowing their secrets to spill into the open.”

Do you feel the government of India should also demand all the Indian black money in Swiss banks back?
Of course, India should and must act. We are not a banana republic.

How can the government go about doing this?
By putting it on the global agenda. Put it in G20. Put it in IMF. Put it in Egmont Group. Also take a lead among all developing countries. Support US/ German/ French efforts.

Do you feel Swiss authorities and other tax havens will cooperate with us on this issue if we take the initiative?
It is not our pressure but that of the US, which will make them cooperate. When a family is in deep financial crisis, it tries to look at the small amount saved under the sugar jar by grandma. In the same way, developed economies are desperate for every dollar.
Even if we do not act due to their efforts, the list of crooks may be out. Then, we will be in a dangerous social situation since the who’s who of India will be there. Instead, we should get the list and get the funds and decide on the steps to sterilise it and the punishment to be given out, etc. Otherwise the world will laugh at us. We will be worse than a Nigeria (Sani Abacha) or Phillipines (Markose).

Do you feel the government will do this, given that a lot of the black money belongs to politicians?
Public pressure will make them do it. Plus, the evolving global situation against tax havens also might act in our favour. The money belongs to the poor farmers and unorganised workers.

Do you see businessmen applying pressure on the government to thwart any attempt to get back this money?
The world situation is such that Indian businessmen will want to bring it back now, given the attractive returns in India. The entire proprietary notes route to invest in the stock market was conceived for that.

You wrote in one of your columns that the German foreign intelligence agency BND got the names of 1,400 clients of the Liechtenstein- based LTG Bank who were suspected tax evaders. Of the 1,400, only 600 were supposed to be Germans. Do you think the rest would include Indians? Has the Indian government approached the
German government for the list?
Indian names will be there. Our tax evaders and crooks are like Maha Vishnu, present in all continents and all tax havens, in the sea, on the earth, in the air. But our government has been lukewarm in its response to this issue. It should have immediately dispatched senior officials and the finance minister to get the names.