Money parked by Indians in Swiss banks rose 50% to Rs 70 billion in 2017, reversing a 3-year downward trend amid India's clampdown on suspected black money stashed there
Jaitley says Alpine nation has amended its domestic laws involving all disclosures and entered into a treaty even with India
Total funds held by all foreign clients of Swiss banks rose about 3% to about Rs 100 trillion in 2017
Supporters argue it would rein in asset price bubbles by putting the central bank solely in charge of the amount of money
A fine of Rs 8 lakh is also slapped on the jeweller
Switzerland has to share bank details from 2018 which gives most account holders enough time to plan their move to another tax haven