Indians money in SWISS Bank rise to approximately 20,700 crores, highest in last 13 years

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The report published by the Central Bank of Switzerland, it claims that money deposited by Indians in SWISS Bank rose to approximately 20,700 Crores currently, which is the highest funds recorded by Indians in the last 13 years.

At the end of 2019, Funds recorded by Indians in SWISS Bank were approximately 899 million SWISS Francs which is about 6,625 crores. As per the current update, it is approximately 2.80 billion which is over 20,700 crores in Indian Currency.

It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013, and 2017, as per the Swiss National Bank (SNB) data.

However, SWISS Bank claims that all funds deposited by Indians are not all black money. Also, they hesitate to provide their Indian clients' data in order to protect client privacy.

Source: India Today