Swiss Bank is the bank where one can deposit his money without any fear of tax and other redtapes.The money that to be deposited and utilised for the development of our country is getting deposited in another country.So it is not available for our use and also we lose the tax and other things on it.

Swiss bank generally allows to deposit the money without any fear. Its is always harmful to India and other country because lot of unknown money is being transferred to the same (swiss bank), its brings a great loss to the economy of a country like India.

In swiss bank anyone can deposit the money, there is no special restriction as other banks have. so people who have black money in swissbank and now it became harmful as wikkileaks has revealled all details about the indian people who had deposited the money in banks. by these details we can know how our politicians are grabing the government money.

great news dear . Now we can know about those bad people and actions can be taken against them to punish .

It is bank In which u can deposit money without any interruption of government and without giving even single penny as a tax to government. MOstly people depost their black money which is a huge enough..

This Swiss Bank is in Switzerland.

Even if we know who kept their money in Swiss Bank, how can we retrieve it? We cannot simply arrest someone having money in Swiss Bank!!!!!

It is like invasion of personal space!!!

Swiss bank is not just a single bank but many different banks that are based in Switzerland. Since Switzerland has enjoyed a neutral status even through both World Wars, it has provided a stable and conducive environment enabling banking sector to flourish and prosper. Most banks in Switzerland are family businesses and are still owned largely by the family members, passed down generation to generation.

The major reasons for Swiss banks being popular the world over is because of their stringent rules with respect to privacy of their clients.
Swiss bank secrecy does protect the privacy of bank clients; the protections afforded under Swiss law are similar to confidentiality protections between doctors and patients or lawyers and their clients. The Swiss government views the right to privacy as a fundamental principle that should be protected by all democratic countries.

Mainly because of the confidentiality factor, large amounts of money are deposited in these banks by people from all over the world. The banking system is not harmful as such to India, we need to blame the people who embezzle public money and then hoard that money in banks overseas. If strict regulations and rules were put in place and measures taken to ensure that such money does not leave the country, then their would be some limit to such financial frauds taking place.

Swiss bank is in Switzerland where you can deposit your black money or white money without any fear.

As Kalyani nicely explained Swiss banks maintain secrecy about clients. Many misuse this facility for parking black money, which is income or wealth that escaped tax. If some one has money any where after paying tax, there is no issue. The RBI guidelines on foreign exchange have to be followed. The deposits in Swiss bank can be utilized for subversive and terrorists activities also. It is not possible to track the source of funds in unlawful activities for this reason.