Press Esc to close
Thursday 23 February 2017
News updated at 3:04 PM IST
Weather
Max: 35.2°C
Min : 19.2°C
In Bengaluru
clear sky

Indians' money in Swiss banks dips to record low at Rs 9k cr

Zurich/New Delhi, June 20, 2013, PTI:
Indians’ money in Swiss banks has fallen to a record low level of about Rs 9,000 crore (1.42 billion Swiss francs), as a global clampdown against the famed secrecy wall of Switzerland banking system made it unattractive for their global clients.

The total funds held by Indian individuals and entities included 1.34 billion Swiss francs held directly by Indian individuals and entities, and another 77 million Swiss francs through “fiduciaries” or wealth managers at the end of 2012, as per the latest figures released by Swiss National Bank (SNB) in Zurich on Thursday.

The official data, which forms part of SNB’s annual report on Swiss banks, further showed that Indians’ money there fell by about 35 per cent or Rs 4,900 crore in 2012.

This was much steeper than a 9.1 per cent fall in the funds held by entities from across the world in Swiss banks, which also hit an all-time low of 1.4 trillion Swiss francs at the end of 2012.

While the Swiss banks had close to Rs 14,000 crore (2.18 billion Swiss francs) of Indians’ money at the beginning of 2012, the equivalent figure for entities from across the world stood at 1.5 trillion Swiss francs.

The data has been released at a time when Switzerland is facing growing pressure from the US and other countries to share the foreign client details, while its own lawmakers are resisting such measures.

 

Go to Top

Photo Gallery
Fake notes of Rs 2000 which were dispensed by an SBI ATM in south Delhi...

Fake notes of Rs 2000 which were dispensed by an SBI ATM in south Delhi...

Chief Minister of Gujarat Vijay Rupani gives envelop to a newly married couple of Brahmin Community.

Chief Minister of Gujarat Vijay Rupani gives envelop to a newly married couple of Brahmin Community.

Tigers playing with each other in cage at Sarthana National Park (Surat) in Surat...

Tigers playing with each other in cage at Sarthana National Park (Surat) in Surat...

Akshar Yoga chain members performs stunts during the awareness programme on self defense ...

Akshar Yoga chain members performs stunts during the awareness programme on self defense ...

A speeding truck overturned at Atul Kataria Chowk in Gurugram on Wednesday. Two passengers...

A speeding truck overturned at Atul Kataria Chowk in Gurugram on Wednesday. Two passengers...

Bollywood actors Varun Dhawan and Aliya Bhatt during the promotion of their upcoming movie ...

Bollywood actors Varun Dhawan and Aliya Bhatt during the promotion of their upcoming movie ...

All India Agricultural University students participated 17th Agri Unifest procession...

All India Agricultural University students participated 17th Agri Unifest procession...

Election officers gather at a distribution centre to receive Electronic Voting Machines for their...

Election officers gather at a distribution centre to receive Electronic Voting Machines for their...

Polling officers receive polling material at a distribution center on the eve of fourth phase pol...

Polling officers receive polling material at a distribution center on the eve of fourth phase pol...

Polling officers collect election material before departing for their respective booths from a dis..

Polling officers collect election material before departing for their respective booths from a dis..

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523