Indian money parked in Swiss banks down 6%; third lowest in over 3 decades

According to SNB, its data for 'total liabilities' of Swiss banks towards Indian clients takes into account all types of funds of Indian customers at Swiss banks, including deposits from individuals

Funds parked by Indian individuals and enterprises in Swiss banks, including through India-based branches, fell nearly 6 per cent in 2019 to 899 million Swiss francs (Rs 6,625 crore), annual data from Switzerland's central bank showed on Thursday.

This marks the second consecutive year of decline in aggregate funds of Indian clients with all Swiss banks, taking the figure to the third lowest level in more than three decades since 1987 when the Swiss National Bank (SNB) began compiling the data.

The total amount of CHF 899.46 million, described by SNB as aggregate 'liabilities' of Swiss banks or 'amounts due