Panama Papers: RBI Seeks Details of Funds Sent Abroad by Indians

The Reserve Bank of India has sought details of outward remittances of Indians from banks whose names have figured in Panama Papers, The Indian Express reported. The Central Bank has sought this information under the Liberalised Remittance Scheme (LRS).

These include people like Amitabh Bachchan, Aishwarya Rai, Supreme Court lawyer Harish Salve and real estate major DLF’s chairman KP Singh.

This comes after the government announced a multi-agency probe into the alleged offshore entities of Indians in tax havens. The probe will find out the legitimacy of these accounts held by Indians named in the Panama Papers.