Money deposited by Indians in Swiss banks decreased by 11%

New Delhi – The money deposited by Indian nationals and Indian companies in Swiss banks reduced by 11% last year to 3.42 billion Swiss francs (approximately Rs 30,000 Cr). This information was revealed through SNB’s (Central bank of Switzerland) data for the year 2022, which was released on 22nd June.

In 2021, Indian customers deposited 3.83 billion Swiss francs (roughly Rs. 35,000 Cr) in Swiss banks. This was the highest amount in 14 years.

The total amount held by Indians in Swiss banks was at a record high of 6.5 billion francs (roughly Rs 60,000 crore) in 2006. After that, it declined. However, during 2011, 2013, 2017, 2020 and 2021, there was an increase in the amount deposited by Indians in Swiss banks.

Editorial Viewpoint

It is a known fact that Indian industrialists and politicians deposit their black money in Swiss banks. Indian citizens should force the Government to bring this money back to India.