Indians' funds in Swiss banks raised to Rs 20,700 crore, highest in 13 years

PTI reported that funds in Swiss banks by Indian individuals and by firms increased to 2.55 billion Swiss francs that is more than ₹20, 700 crores. This amount includes funds by Indian financial institutions, other India based firms. 

Central Bank revealed on past day that is Thursday, there was fast increase in holding by securities and by instruments etc. It is the highest amount observed in earlier 13 years.  At 2019 year ending Indian individuals total funds raised up to 899 million Swiss francs that is ₹6, 625 crores. 

Nearly 13 years back in 2006 stood at a high record with 6.5 million Swiss francs. After it is gradually decreasing in the years except 2011,2013 and 2017. The total amount of ₹20, 706 crores which the SNB explains as Swiss banks total liabilities and  amount for reason of their clients at the  year ending 2020 includeCustomer deposits of over CHF503. 9 million that is ₹4000 crores. 

Amount held by other banks CHECK 383 million that is ₹3100 crores. The Report added ,at the end of 2019 there is the biggest  difference can be noticed in risen other amounts due to customers from India which raised nearly 6 times of CHF 253 million. 



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