Swiss bank holdings rose. No source shows they are black money.
- Wrong: Black money in Swiss banks nearly tripled.
Checked against: Ministry of Finance (Rajya Sabha reply), Bhaskar English, India Today, Business Standard, ETBFSI.com, The National, newscrab.com
Why we say that›
Total Indian-linked funds in Swiss banks increased but not proven black money.
The total liabilities grew. No evidence establishes the amounts as black money or confirms a 2026 figure.
Each figure is real total holdings. None shows it is black money.
Reported 5 Oct 2026
How the reel gets there
The reel says: “BLACK MONEY IN SWISS BANK”
The record shows: SNB data on total liabilities owed to Indian residents, including institutional money, inter-bank transactions and other items, repeatedly distinguished from black money.
Ministry of Finance (Rajya Sabha reply) · India Today · ETBFSI.com · newscrab.com
The reel says: “black money in Swiss bank nearly tripled”
The record shows: SNB data on total liabilities owed to Indian residents, including institutional money, inter-bank transactions and other items, repeatedly distinguished from black money.
Ministry of Finance (Rajya Sabha reply) · India Today · ETBFSI.com · newscrab.com
Claims
1 false · 2 no record
- False
A promise was made to bring back black money, instead black money in Swiss banks nearly tripled.
What we found
Official sources clarify Indian-linked Swiss bank funds rose to ~Rs 37,600 crore but include institutional holdings and other liabilities, so cannot be treated as black money.
+2 smaller points we found no record of›
- No record found
Black money in Swiss banks was 14,000 crore in 2014.
What we found
No confirmation exists from attached sources that the reported 14,000 crore in 2014 Swiss holdings represented black money.
- No record found
Black money in Swiss banks was 37,500 crore in 2026.
What we found
Sources report total Indian-linked funds around 37,600 crore for end-2024 and 36,800 crore for 2025. No source establishes a 2026 total of 37,500 crore.
The full story, from the sources›
cites SNB data on rise to ~Rs 37,600 crore but clarifies it includes various liabilities, not necessarily black money; notes BMA recoveries. - Ministry of Finance (Rajya Sabha reply) (2025-07-22) Swiss authorities have always maintained that assets held by Indian residents in Switzerland cannot be considered as 'black money and they actively support India in its fight against tax fraud and evasion. - ETBFSI.com The Finance Ministry clarified that the SNB figures reported by the media include not just individual deposits but also money held by Swiss bank branches abroad, inter-bank transactions, and other liabilities. Swiss authorities themselves have advised that SNB’s annual banking data should not be used to analyze Indian citizens deposits specifically. - newscrab.com Mr Modi pledged during his high-octane election campaign to “bring back black money within 100 days of being elected. - The National (2014-11-02) Indian money parked in Swiss banks tripled in 2024 to CHF 3.5 billion, or approximately ₹37,600 crore, according to annual figures released by the Swiss National Bank (SNB). - Business Standard (2025-06-19)
From primary sources · reporting
How it's framed (5)›
Sources (7)›
cites SNB data on rise to ~Rs 37,600 crore but clarifies it includes various liabilities, not necessarily black money; notes BMA recoveries
The money deposited by Indians in Swiss banks has tripled in 2024 to 3.5 billion Swiss francs, which is approximately ₹37,600 crore.
The Swiss National Bank has repeatedly clarified that these figures do not represent the amount of alleged black money held by Indians in Switzerland.
Indian money parked in Swiss banks tripled in 2024 to CHF 3.5 billion, or approximately ₹37,600 crore, according to annual figures released by the Swiss National Bank (SNB)
Swiss authorities have always maintained that assets held by Indian residents in Switzerland cannot be considered as 'black money and they actively support India in its fight against tax fraud and evasion.
Mr Modi pledged during his high-octane election campaign to “bring back black money within 100 days of being elected
The Finance Ministry clarified that the SNB figures reported by the media include not just individual deposits but also money held by Swiss bank branches abroad, inter-bank transactions, and other liabilities. Swiss authorities themselves have advised that SNB’s annual banking data should not be used to analyze Indian citizens deposits specifically.
Notes on this check (2)›
- The transcript is degraded (repeated or garbled speech), so claims taken from audio may be misread.
- The video could not be downloaded, so this check rests on the caption and images.
Checked against 7 sources · 5 Oct 2026
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