Indians deposited maximum money in Swiss bank during Corona period, 13 year record broken

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In the annual data released by the central bank, it was found that in the year 2020, Indian nobles and companies deposited the most money in Swiss banks. Due to which the amount deposited has increased.

Indians money deposited in Swiss banks

The Indian economy may have suffered a setback during the Corona period, but during this period also many Indian nobles and companies increased their deposits in Swiss banks. The annual data released by the Central Bank of Switzerland on Thursday showed that in the year 2020, deposits of Indians and Indian companies in Swiss banks increased to about 2.55 billion Swiss francs i.e. more than Rs 20,700 crore. is. This figure is the highest in the last 13 years.

According to the data, at the end of 2019, the deposits of Indians and Indian companies in Swiss banks were about 899 million francs (Rs 6,625 crore). At the same time, by the end of the year 2020, the total deposit amount increased to Rs 20,706 crore. This amount includes customer deposits of over Rs 4,000 crore, over Rs 3,100 crore through other banks, Rs 16.5 crore through trusts and about Rs 13500 crore through bonds, securities and various other financial options.

Record was also made in the year 2006

According to the report, the data of Indians and companies depositing money in Swiss banks had previously set a record in the year 2006. During that time the deposits of Indians were about 6.5 billion Swiss Francs. However, except for the years 2011, 2013 and 2017, most of the years saw a decline.

Record of all funds given

According to the SNB, all types of funds from Indian customers of Swiss banks, including deposits by individuals, banks and enterprises, have been taken into account in the calculation of money deposited by Indians in Swiss banks. These figures do not reflect the amount of black money of Indians in Switzerland. These figures also do not include money deposited in Swiss banks by Indians, NRIs or others in the name of third country entities.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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