Switzerland is "extremely keen" on greater cooperation in India's fight against suspected black money stashed in Swiss banks and is putting in place a new law on automatic information exchange that will take about a year to come into force, Finance Minister Arun Jaitley has said.

Ruling out any competition to full-service banks from payments and small finance banks, top banker Chanda Kochhar has said they can actually complement the existing banking system and that ICICI Bank will explore opportunities for mutually beneficial partnerships.

Switzerland is "extremely keen" on greater cooperation in India's fight against suspected black money stashed in Swiss banks and is putting in place a new law on automatic information exchange that will take about a year to come into force, Finance Minister Arun Jaitley has said.