The Congress on Monday took a swipe at social activist Anna Hazare over his silence on the sharp rise in Indian deposits in Swiss banks, contrasting it with his vocal criticism during the UPA years.

Congress leader Pawan Khera posted on X, “Utho Annakali, the money of Indians in Swiss banks has tripled,” referring to the recent data released by the Swiss National Bank.

According to the report, funds parked by Indian clients in Swiss banks rose more than three times in 2024 to 3.54 billion Swiss francs (nearly Rs 37,600 crore).

The rise comes after a 70 per cent decline in such deposits in 2023, when they had dropped to a four-year low.

Of the total amount, customer deposits accounted for only 346 million Swiss francs (around Rs 3,675 crore), showing an 11 per cent rise. The bulk of the increase came from funds held through local branches and other financial institutions.

The Centre, reacting to the figures, said it is closely monitoring potential tax evasion and leveraging various international information exchange frameworks.

In a statement issued on Friday, the finance ministry said that since 2018, Switzerland has been providing annual financial details of Indian residents under the Automatic Exchange of Information (AEOI) mechanism.

The first transmission of such data to Indian authorities took place in September 2019 and has continued since. The ministry added that the income-tax department regularly reviews this data to identify cases that may require further verification or enforcement action.

Anna Hazare had gained nationwide prominence during the UPA regime for leading an anti-corruption movement that often focused on the issue of Indian black money allegedly stashed abroad.

In 2012, Hazare and his supporters frequently accused Congress leaders of hiding illicit wealth in Swiss bank accounts and demanded strong laws like the Jan Lokpal Bill to bring such money back.