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The move is expected to prompt banks to lower the deposit rate in line with the small savings rate as offered by the government.

Bank accounts face suspension: What FATCA rules say

Foreign Accounts Tax Compliance Act enables automatic sharing of investor information between signatory parties.

12 April 2017 1:06 PM IST

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Swiss banks demand secrecy for automatic info exchange with India

The Swiss Federal Council has ratified the AEOI with India to facilitate sharing of details about suspected black money.

18 Jun 2017 2:23 PM IST