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Indian money in Swiss banks over Rs 14,000 cr

By The Assam Tribune
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ZURICH/NEW DELHI, June 19 � Indians� money in Swiss banks has risen to over two billion Swiss francs (nearly Rs 14,000 crore), despite a global clampdown against the famed secrecy wall of Switzerland banking system, reports PTI.

The funds held by Indians with banks in Switzerland rose by over 40 per cent during 2013, from about 1.42 billion Swiss francs at the end of previous year, as per the latest data released today by the country�s central banking authority Swiss National Bank (SNB).

In contrast, the money held in Swiss banks by their foreign clients from across the world continued to decline and stood at a record low of 1.32 trillion Swiss francs (about USD 1.56 trillion or over Rs 90 lakh crore) at the end of 2013.

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Indian money in Swiss banks over Rs 14,000 cr

ZURICH/NEW DELHI, June 19 � Indians� money in Swiss banks has risen to over two billion Swiss francs (nearly Rs 14,000 crore), despite a global clampdown against the famed secrecy wall of Switzerland banking system, reports PTI.

The funds held by Indians with banks in Switzerland rose by over 40 per cent during 2013, from about 1.42 billion Swiss francs at the end of previous year, as per the latest data released today by the country�s central banking authority Swiss National Bank (SNB).

In contrast, the money held in Swiss banks by their foreign clients from across the world continued to decline and stood at a record low of 1.32 trillion Swiss francs (about USD 1.56 trillion or over Rs 90 lakh crore) at the end of 2013.

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