Indian Money In Swiss Banks

The rise in aggregate funds of Indian clients with Swiss banks marks the second consecutive year of increase

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India had received the first set of details from Switzerland under AEOI (Automatic Exchange of Information) in Sept

The finance ministry on Saturday asserted that Indian customer deposits in Swiss banks have fallen since 2019, but said it is seeking details from Swiss authorities on the relevant facts

Funds held in Swiss banks by clients from UK, US decline; money from Bangladesh down too, but Pakistani funds double

The Swiss government began making details of dormant accounts public in 2015 to allow their claimants submit necessary proof to get access to those funds, which included at least 10 accounts

Full details of the entire flow of funds to and from all the accounts that were active even for a single day in the year 2018 will be provided

Money held by Indians with banks in Switzerland account for only 0.04% of the total funds

The funds held by Indians in Swiss banks stood at a record high of Rs 23,000 crore at 2006-end