April 7, 2016 8:08 AM

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Panama papers: RBI says it will look into evidence to find out legitimacy of holdings

Cautioning against jumping to conclusions with regard to Panama Papers, the Reserve Bank of India has said it will have to look into the evidence to find out what is legitimate or not. The so-called Panama Papers have disclosed a list of nearly 500 Indians including celebrities and industrialists who have allegedly stashed money in offshore entities in Panama, considered to be a tax haven.RBI Deputy Governor S S Mundra said yesterday that the Government has set up a task force and RBI is a part of it. He was speaking on the sidelines of an event organised by Assocham in New Delhi. RBI Governor Raghuram Rajan had said that the multi-agency probe ordered by Centre will look into the legitimacy of holdings of Indians named in the leaked Panama list.

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