India has called for sharing of banking data on demand to combat menace of black money and terror funding. Speaking to reporters today in Paris, France, the Finance Minister Pranab Mukherjee regretted that some countries try to restrict flow of information by putting clauses in the tax treaties which are not necessary.

The Minister further said that after the Pittsburgh declaration many of the countries have extended cooperation for sharing information related to banking but it should be made faster and it should not only be restricted to prospective effect. He said some information relating to past transactions is also needed, particularly from Switzerland and certain other countries where large amount of money are being deposited from different nations of the world.

Mr Mukherjee is in Paris to attend the two-day meeting of the G-20 Finance Ministers and Central Bank Governors. The meeting will also discuss the issues concerning tax evasion and terror funding.