Money Of Indians In Swiss Banks Rises 50% To Over Rs. 7,000 Crore

Money parked by Indians in Swiss banks rose over 50 per cent to 1.01 billion Swiss francs (Rs. 7,000 crore) in 2017, reversing a three-year downward trend amid India's clampdown on suspected black money. In comparison, the total funds held by all foreign clients of Swiss banks rose about 3 per cent to 1.46 trillion Swiss francs or about Rs. 100 lakh crore in 2017, according to the official annual data released today by Swiss National Bank (SNB), the central banking authority of Switzerland.

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