Jaitley said that the tax department has launched 60 prosecutions from an earlier list of Indian account holders in a Swiss branch of HSBC bank and most of the names revealed in the list are known to the government.

READ: Black money in stock markets: SEBI to suspend shell companies
"Some new names have been revealed whose veracity would be checked by authorities," he told reporters here, while adding that the government has put in vigorous efforts towards digging black money during the last 6-7 months.

He was reacting to a story in a newspaper, which said that 1,195 Indian names figure in the HSBC list with a total balance of Rs 25,420 crore, as part of an investigation by an international body of journalists.

Many of the names have already been disclosed, but there are some new additions, including that of prominent corporate leaders, politicians, NRIs and others.

Many of these accounts could be legitimate.

READ MORE: Modi's campaign against black money alerted depositors to withdraw money: Mulayam Singh

Jaitley said that he had met top Swiss authorities, including Switzerland's Finance Minister, in Davos last month and it was agreed there that admission by assessees would be considered additional evidence to seek details.

The Indian names revealed today are part of a global list of account holders in HSBC's Swiss private banking arm and their balances for the year 2006-07. They include persons from over 200 countries with total balance of over USD 100 billion.

ALSO READ: Heightened vigil to check black money flow during Delhi polls

The 1,195 Indian names are nearly double the 628 names that figured in an earlier HSBC list that was shared by the French government with India in 2011.

Latest News from India News Desk