India placed 88th in money hoarded in Swiss bank

Posted on:04 Jul 2017 12:41:02
India placed 88th in money hoarded in Swiss bank
04 July 2017 Current Affairs: India slipped to the 88th place in terms of money parked by its citizens with Swiss National Bank (SNB).

The analysis shows that the money officially held by Indians with banks in Switzerland now accounts for a meagre 0.04% of the total funds kept by all foreign clients in the Swiss banking system.

India was ranked in top-50 continuously in terms of holdings in Swiss banks between 1996 and 2007 but slowly declined in fourth coming years.

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