14,000 crores is the amount Indians parked in Swiss Banks

Swiss banks-indian money

2.03 billion Swiss Francs or about Rs. 14,000 crores is the amount Indian individuals and entities, including the money held through wealth managers, at the end of 2013 in the Swiss banks, as per official data released by the country’s central banking authority, Swiss National Bank (SNB).

The amount was 1.42 billion Swiss Francs at the end of 2012. That means the deposits went up by about 40% last year. This money does not include the “black money” any Indians may have there.

About 68.2% – that is 1.4 billion Swiss Francs or about Rs 10,000 crores is held by just two banks, UBS and Credit Suisse, which are classified as the big banks by SNB. The highest amounts Indians ever held there was 6.5 billion Swiss francs at the end of 2006. But it has been falling from ever since.

The total amounts client from across the world holding in Swiss banks is 1.32 trillion Swiss francs at the end of 2013. The amounts US citizens holding is 193 billion Swiss francs. Like India, US is also imposing several restrictions on holding money in Swiss banks by their citizens.

Medaram Jathara

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