<P> The through the Investigation Division of the Central Board of Direct Taxes released a White Paper on Black Money giving the Income Tax Department increased powers . </P> <P> In February 2015, Indian Express released the list of 1195 Indians account holders and their balances for the year 2006 - 07 in HSBC's Geneva branch . The list was obtained by French newspaper Le Monde and included the names of several prominent businessmen, diamond traders and politicians . The number of Indian HSBC clients is roughly double the 628 names that French authorities gave to the Indian Government in 2011 . Indian government said it will probe into this matter . The balance against the 1195 names stood at ₹ 25,420 crore (US $4.0 billion). </P> <P> The list which had names of dictators and international criminals, was simultaneously published by news organisations in 45 countries including The Guardian, UK; Haaretz, Israel; BBC, London . HSBC had helped its clients evade taxes and said in a statement that "standards of due diligence were significantly lower than today ." </P> <P> The 2016 Panama Papers scandal is the largest - ever leak of information on black money in history . International Consortium of Investigative Journalists first obtained the leaked information, revealing over 11 million documents . These documents pertain to 214,000 offshore entities and span almost 40 years . The papers originated from Mossack Fonseca, a Panama - based law firm with offices in more than 35 countries . The list of names exposed in the scandal includes 500 Indians who flouted rules and regulations, such as Amitabh Bachchan, Aishwarya Rai, Niira Radia, KP Singh, Garware family, Harish Salve, and others . </P>

What is the estimated black money in india