Yesterday, Swiss National Bank (SNB), the central banking authority of the Alpine nation released an annual data. According to the official annual data, there is an immense growth of 50% in Money parked by Indians in Swiss banks.
As per the latest data, the Indian money in Swiss banks included CHF 464 million (Rs 3,200 crore) in the form of customer deposits, CHF 152 million (Rs 1,050 crore) through other banks and CHF 383 million (Rs 2,640 crore) as ‘other liabilities’ such as securities at the end of 2017.
The surge in Indian money held with Swiss banks comes as a surprise given Indian government’s continuing clampdown on black money. However, this is also a fact that effect of efforts by the government was quite visible in 2016. The Indian money in Swiss banks had fallen by 45 per cent in 2016.

Follow Manipuri News at twitter for more news updates – https://twitter.com/ManipuriNews