Swiss bank accounts for 0.06% of India’s investments Swiss Banks | India | Black Money | Manorama News

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India slips to third place in Swiss banks According to the latest data from the Central Bank of Switzerland, India ranks 77th among citizens and institutions. Last year, India was ranked 74th.

An analysis of the annual banking statistics released by the Swiss National Bank (SNB) shows that India is very low in terms of the amount of money invested by individuals and enterprises. India contributes only 0.06% of SNB’s total assets. The UK tops the list with over 27% of total foreign funds.

The top five are the UK, the US, the West Indies, France and Hong Kong. Funds invested by Indian individuals and enterprises fell 5.8 per cent to USD 899 million (US $ 6625 crore) in FY 2019. These are official figures reported by banks to SNB. However, there is no indication as to how much black money Indians have invested in Switzerland.




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Some have suggested that the measures taken by the central government against money laundering have reduced Indian investment in Swiss banks. However, India’s neighboring countries are at a lower position, according to the latest report. Pakistan 99, Bangladesh 85, Nepal 118, Sri Lanka 148, Myanmar 186 and Bhutan 196. All of these countries are down in 2019.




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English Summary: Money in Swiss banks: India at 77th place, accounts for just 0.06% of all foreign funds



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https://www.manoramaonline.com/news/latest-news/2020/06/26/money-in-swiss-banks-india-at-77th-place.html

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