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- Swiss Bank Accounts India Update | Funds In Swiss Banks Rise To Over 20,700 Crores
New Delhi/Zurich2 minutes ago
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Even during the Corona era, the wealth of Indians continued to grow in the banks of Switzerland. In 2020, this figure reached Rs 20,700 crore, which is the highest in the last 13 years. At the same time, it is 212% or 3.12 times more than in 2019.
This figure also includes deposits made through banks and other financial institutions based in India. The reason for the increase in deposits in Swiss banks was a sharp jump in holdings through securities and other such options. However, customer deposits declined for the second year in a row.
6% drop in deposits
This information has been given in the annual data released by the Central Bank of Switzerland on Thursday. Earlier, there was a decline in the deposits of Indians in Swiss banks for two consecutive years. According to the data, the figure of deposits of Indians and Indian companies in Swiss banks was Rs 6,625 crore at the end of 2019. Which was 6% less than 2018.
According to the bank, out of the total amount of 20,706 crore Indians and Indian companies in Swiss banks by the end of 2020, customer deposits of more than Rs 4,000 crore, more than Rs 3100 crore through other banks, Rs 16.5 crore through trust and about 13,500 crore. Crores of rupees are included in the form of other amounts coming in the form of bonds, securities and various other financial options.
What else was stated in the data?
UK tops with Rs 30.49 lakh crore
By the end of 2020, total deposits in Swiss banks reached Rs 161.78 lakh crore. Of these, foreign deposits amount to Rs 48.53 lakh crore. The UK tops the list with Rs 30.49 lakh crore. America is at number two with Rs 12.29 lakh crore. Apart from this, West Indies, France, Hong Kong, Germany, Singapore, Luxembourg, Cayman Islands and Bahamas are included in the top 10 countries.