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Indian deposits in Swiss banks at record low of Rs 8,392 cr, lag fin hubs

The funds held by Indians in Swiss banks stood at a record high of Rs 23,000 crore at 2006-end

Press Trust of India  |  New Delhi 

Indians have "few deposits" in Swiss banks compared to other global financial hubs like Singapore and Hong Kong, says a grouping of private bankers in Switzerland amid stepped-up efforts to check the black money menace. Money held by Indians in Swiss banks declined to a record low of 1.2 billion francs (about Rs 8,392 crore) at the end of 2015, as per the latest available official data. However, no official data is available for money in other global hubs. Committing itself to the global framework for the automatic exchange of tax information, Switzerland last week ratified ...

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First Published: Sun, June 18 2017. 15:23 IST
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