G20 deal on black money

n May, the Modi government's first decision was to set up a special investigative team to probe black money. Now in a major boost to his efforts, the G20 agree to a deal that will mandate automatic sharing of all bank information with tax authorities on an annual basis, starting 2017.
Though one can doubt how effective such a measure will be but that's still something better than nothing.
In summary,

■ the deal will allow automatic exchange of Bank info by countries, including account balance and income accrued during the year
■ Agreement will help India secure information that countries would earlier deny citing local secrecy laws
■ upon request, data as old as 5-6 years can be accessed
■ India is among 45 nations to be early adopters of this rule. 122 set to follow by end of 2018