The funds held by Indians with banks in Switzerland fell by CHF 215 million to CHF 1,815 million last year
Money held by Indians in Swiss banks declined 10% last year to 1.8 billion Swiss franc (about Rs 12,615 crore), according to the latest data released on Thursday by Swiss National Bank.
The funds held by Indians with banks in Switzerland fell by CHF 215 million to CHF 1,815 million (1.98 billion in the US dollar terms), from 2,030 million Swiss franc, SNB data added.
The total Indian money held in Swiss banks at the end of 2014 included 1,776 million Swiss franc or Rs 12,350 crore held directly by Indian individuals and entities (down from 1,952 million Swiss Franc a year ago) and 38 million Swiss franc (down from 77.3 million Swiss francs at 2013-end) through ‘fiduciaries’ or wealth managers.
On the other hand, "amounts due to customers' savings and deposit accounts" was just 52 million Swiss Franc (down from 63 million Swiss Franc a year ago), while over 100 million Swiss Franc was due through other banks and the remaining amount of well over one billion Swiss francs have been classified as "other amounts due to the customers" from India.
The funds held by Indians with banks in Switzerland fell by CHF 215 million to CHF 1,815 million (1.98 billion in the US dollar terms), from 2,030 million Swiss franc, SNB data added.
The total Indian money held in Swiss banks at the end of 2014 included 1,776 million Swiss franc or Rs 12,350 crore held directly by Indian individuals and entities (down from 1,952 million Swiss Franc a year ago) and 38 million Swiss franc (down from 77.3 million Swiss francs at 2013-end) through ‘fiduciaries’ or wealth managers.
On the other hand, "amounts due to customers' savings and deposit accounts" was just 52 million Swiss Franc (down from 63 million Swiss Franc a year ago), while over 100 million Swiss Franc was due through other banks and the remaining amount of well over one billion Swiss francs have been classified as "other amounts due to the customers" from India.
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