RBI will look into 'Panama Papers'
Cautioning against jumping to conclusions with regard to Panama Papers, the Reserve Bank of India (RBI) has said it will have to look into the eviden...
Cautioning against jumping to conclusions with regard to Panama Papers, the Reserve Bank of India (RBI) has said it will have to look into the evidence to find out what is legitimate or not.
The Panama Papers have disclosed a list of nearly 500 Indians including several celebrities and industrialists who have allegedly stashed money in offshore entities in Panama, considered a tax haven.
RBI Deputy Governor S S Mundra said Wednesday that the government has set up a task force and the central bank is a part of it.
He was speaking on the sidelines of an event organised by ASSOCHAM in New Delhi. RBI Governor Raghuram Rajan had said that the multi-agency probe ordered by government will look into the legitimacy of holdings of Indians named in the Panama list.
"It would be too hasty to jump to a conclusion that everything is illegitimate or everything is legitimate. There would be all kind of cases once the details are available, we will look into the evidence along with the team. Then it would be fair to reach to a conclusion," RBI Deputy Governor SS Mundra said.
Besides, the Special Investigation Team (SIT) on black money is also scanning the Panama Papers. "Investigations are being carried out. We are going to investigate it (the list) thoroughly," SIT Chairman Justice (retd) M B Shah had said.