Zurich: India has moved down to 61st place in terms of foreigners' money in Swiss banks and it now accounts for a meagre 0.123 percent of the total global wealth worth USD 1.6 trillion in Switzerland's banking system.
While the UK and the US have retained their top two positions with the largest shares of the foreign clients' money with Swiss banks, Pakistan has inched up to 73rd place.
Interestingly, just two big banks -- UBS and Credit Suisse -- account for nearly two-third of the total money kept by foreigners in Swiss banks, while their share in case of Indians is even higher at about 82 per cent.
As per the latest data released by Switzerland's central banking authority SNB (Swiss National Bank),
Indians' money in Swiss banks declined by over 10 per cent to about 1.8 billion Swiss francs (USD 1.98 billion or Rs 12,615 crore) in 2014.
Black money: India slips to 61st place on Swiss money list
While the UK and the US have retained their top two positions with the largest shares of the foreign clients' money with Swiss banks, Pakistan has inched up to 73rd place.
Interestingly, just two big banks -- UBS and Credit Suisse -- account for nearly two-third of the total money kept by foreigners in Swiss banks, while their share in case of Indians is even higher at about 82 per cent.
As per the latest data released by Switzerland's central banking authority SNB (Swiss National Bank),
Indians' money in Swiss banks declined by over 10 per cent to about 1.8 billion Swiss francs (USD 1.98 billion or Rs 12,615 crore) in 2014.
Black money: India slips to 61st place on Swiss money list
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