India, June 22: Indian’s money in Swiss bank dropped by 10 percent to about 1.8 million Swiss francs and it is moved to 61st place in terms of foreigner’s money in Swiss banks.
According to latest data which is released by the Switzerland’s banking authority Swiss National Bank (SNB), is that Indian’s money in Swiss bank is dropped by 10 percent to about 1.8 billion Swiss francs i.e. Rs. 12, 615 crore in 2014.
In 2014 India has placed at 61st in Swiss bank in terms of foreigners’ money and it has only 0.123 percent of funds in account by people from across the world. Whereas with the largest shares of foreign clients’ money in Swiss bank, UK and US reserved with top two positions and Pakistan has moved slowly to 73rd place.
As per SNB analysis at the end of 2014, Zurich based SNB classified that only two banks UBS and Credit Suisee were big banks at that time among 275 banks in Switzerland. These two banks kept nearly two-third of the total money in Swiss banks in terms of foreigners’ money, whereas their share in case of Indians is even higher at about 82 per cent. And the share of two big banks is also increased in the UK, US and a number of other countries.