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Congress’s Fake News Factory: Twists Swiss Bank Data Into Political Propaganda To Target Modi Govt

By
The Commune
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The Congress, unable to find any real grounds to critique the BJP government, has stooped to running a “fake news factory.” Its official channels and ill-informed supporters now spread unchecked propaganda without verifying facts.

A glaring example, the party seized upon a Swiss National Bank headline—“Indian money parked in Swiss banks more than tripled in 2024, reaching 3.54 billion Swiss francs” — and spun it as yet another case of black money flight from India. However, a closer look at the report reveals a very different story.

Since 2014, Indian individual deposits in Swiss banks have actually declined, while valid interbank investments have surged. The Swiss National Bank report clearly differentiates between:

  1. Liabilities due to Indian banks – funds that Swiss banks owe Indian banks, an expected outcome of routine financial dealings.

  2. Individual Indian deposits – money held in personal accounts, often associated with black money concerns.

In 2024, liabilities owed to Indian banks rose dramatically from 427 million to 3,022 million CHF—reflecting normal banking activity, not illicit transfers. Meanwhile, individual deposits by Indian citizens dropped to just 346 million CHF, down nearly 80% from 1,656 million CHF in 2013.

The truth: Black money inflows have plummeted over the past decade. What increased was interbank activity—a legitimate financial trend. Congress’s portrayal of the headline isn’t merely mistaken—it’s intentionally misleading, marking yet another chapter in their long-standing playbook of distortion.

In claiming a surge in black money, Congress ends up looking foolish—caught with egg on its face.

Check below how Congress and its allies fabricate and fuel misleading narratives.

The Kerala Congress recently reposted a 2014 tweet from Prime Minister Modi proclaiming, “Why is Cong hesitant to bring back black money? Because they know who it belongs to…NDA will bring back every Paisa that is stashed abroad.” They followed up by alleging, “Swiss Banks had 7,000 Cr from Indian depositors in 2017 and now it is just 37,600 Cr. The world-class scamster who came to power after promising to bring back ‘every Paisa’ has ended up parking more money in tax havens.”

In another piece of opportunistic messaging, they mocked the PM-CARES fund, writing, “If you’ve paid using this QR code, you’ve a small share in the Swiss Bank deposits or other tax havens of 37,600 Cr. Feel proud!”

Meanwhile, UWC Congress circulated an old video of Modi with the mocking caption, “All talks, No show…Only Multiply! They promised to bring back black money. Instead, they sent more… straight to Swiss banks!”

Another DMK sympathizer echoed the congress sentiments and peddled,  “Indian Black Money in Swiss Bank in the Past 7 Years :- 2017 : ₹6.8K Cr 2018 : ₹7K Cr 2019 : ₹6.6K Cr 2020: ₹20.7K Cr 2021 : ₹30.5K Cr 2024 : ₹37.4K Cr (Highest) 11 years ago, a person fooled the entire Nation that he will bring back the black money.”

These examples show a deliberate strategy cherry-picking figures, twisting headlines, and stoking outrage to nurture false narratives against the government.

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