It looks like Narendra Modi the Prime Minister of India has understood that touching the Bank accounts and money of people would cost him his power. After the demonetisation and GST he is unable to win the elections as desired. He lost Karnataka in the process.
Imposing rules and restrictions on one’s own money was the biggest mistake that the NDA Government has done. SBI the bank which tried to implement the diktats of the government in a big way in the name of service charges is losing customers and business on daily basis.
When Modi came to power he vowed to bring back the black money from Swiss banks. The same would be deposited in the poor people accounts he promised. But nothing happened so far.
Swiss account was a synonym for the black money. Nothing came out so far and now the Union Minister for Railways made a bold statement that all the money parked in Swiss bank cannot be called as black money. He also revealed that by 2019 you will get the real status of the accounts from the Swiss bank.
This clearly indicates that the hunting for black money has been stopped by Modi for the next elections. He goes after black money and other forms of illegal money in the banking system he is bound to lose the elections. If he has to come to power there is no other way but to close the eyes till the next elections.
The Swiss swindlers can adjust to the situation by next year and be safe. Even after those bombarding statements against the Swiss accounts, and money parked in Swiss the volume of money has risen by 50 percent when compared to earlier times.
Union Minister Piyush Goel has certified that all the money stashed in Swiss Bank is not black. What more you want.
Now people with Swiss accounts and stashed money can just relax. PM Modi has taken a U-turn and it is election time.
U.Srinivas
Editor
