India to press for sharing past banking info at G20 meet


New Delhi : Finance Minister Pranab Mukherjee at a G20 meet beginning Friday will press the concerned countries, especially tax havens, to share past banking and tax-related information to help curb terror financing and blackmoney.

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During the two-day meeting of G20 finance ministers and central bank governors to be held in Paris, Mukherjee is likely to raise the issue of “exchange of information among different countries to fight against the menace of blackmoney and terror financing,” according to an official statement Thursday.

Mukherjee may impress on G20 member countries to start exchanging information automatically for tax purposes on a voluntary basis including exchange of past banking information.

The finance minister is scheduled to leave for Paris Thursday evening to attend the meeting being held Oct 14-15.

Mukherjee will ask the G20 member countries to impress upon concerned countries, especially tax havens, for uninterrupted flow of information relating to blackmoney and terror financing, a statement released by the ministry of finance here said.

During his three-day visit, Mukherjee is also likely to hold bilateral meetings with his counterparts from several G20 countries, including France, Australia and the UK.

Global economic recovery, reforms of international monetary system, financial regulations and framework for strong, sustainable and balanced growth, are among the issues likely to dominate the G20 finance minister’s meet.