Increase in Indian money deposits by 50% in Swiss Bank

All money in the Swiss Bank is not black

New Delhi – The Central Bank of Switzerland declared its Annual Statistics on 16^th June. As per this statistics, there has been 50% increase in the money of Indian industrialists and companies/establishments in the Swiss bank in a year. Indian wealth has reached almost Swiss Francs 383.19 crore (More than Rs 30,500 crore). This is the largest increase in the last 14 years. At the end of 2020, the Indian money in the Swiss Bank was 2.55 billion Swiss Francs (Rs 20,700 crore). Banks in Switzerland have given these statistics to S.N.B. Hence, this money does not appear to be black money.

Funds increased a sharp surge in holdings via securities and similar instruments while customer deposits rose as well, annual data from Switzerland’s central bank showed | #SwissBanks https://t.co/KoTM3X5BRm

— Business Today (@business_today) June 16, 2022

1. Towards the end of 2021, Indian money was 383.19 crore Swiss Francs. Out of these, 60.20 crores deposits.

2. Britain has 379 billion Francs in the Swiss bank, the US has 168 billion Francs, West Indies, Germany, France, Singapore, Hong Kong, Luxembourg, Bahamas, Netherlands, Cayman Island and Cyprus are at the forefront in depositing money in the Swiss Bank among those depositing money there. India is at 44th rank in this list.