Money in Swiss banks: India at 77th place, accounts 0.06% of foreign funds

India has descended three spots to 77th position as far as cash stopped by its residents and endeavors with Swiss banks toward the finish of 2019, while the UK has held its top situation, according to the most recent information from Switzerland's national bank.
India was positioned 74th in the earlier year.
An investigation of the most recent yearly financial measurements discharged by the Swiss National Bank (SNB) indicated that India stays positioned low with regards to cash stopped by Indian people and undertakings in Swiss banks, including through their India-based branches, representing pretty much 0.06 percent of the total supports stopped by every remote customer of Switzerland-based banks.
In correlation, the highest level UK represented near 27 percent of the complete remote subsidizes stopped with Swiss banks toward the finish of 2019.
As per the most recent SNB information, reserves stopped by Indian people and undertakings in Swiss banks, including through India-based branches, fell by 5.8 percent in 2019 to 899 million Swiss francs (Rs 6,625 crore).
The information is for 'complete liabilities' of Swiss banks towards Indian customers considers a wide range of assets of Indian clients at Swiss banks, including stores from people, banks and endeavors. This likewise remembers information for parts of Swiss banks for India, just as non-store liabilities.
These are legitimate figures revealed by banks to the SNB and don't show the quantum of the much-discussed claimed dark cash held by Indians in Switzerland. These figures additionally do exclude the cash that Indians, NRIs or others may have in Swiss banks in names of third-nation elements.

Among the highest level locales, the UK is trailed by the US, West Indies, France and Hong Kong in the main five.