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Money in Swiss banks
July 3 , 2018
2337 days
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- India has moved up to 73rd place in terms of money parked by its citizens and companies with Swiss banks, while the UK remains on the top.
- India had slipped to 88th place with a 44 percent plunge in such funds during 2016. The country was ranked highest at 37th place in the year 2004.
- The latest data from the Swiss National Bank (SNB) shows an increase of over 50% in 2017 to CHF 1.01 billion (about Rs 7,000 crore).
- Pakistan is now placed one place higher than India at 72nd position, down one slot, after 21 % dips in funds from that country in Swiss banks during 2017.
- The U.S. remains on the second position despite a dip of about 6 % in such funds to CHF 166 billion (11 percent share of all foreign funds).
- Others in the top-ten included West Indies, France, Hong Kong, Bahamas, Germany, Guernsey, Luxembourg and Cayman Islands.
- Among BRICS countries, India remains to rank the lowest with China at 20th place, Russia at 23rd, Brazil 61st, and South Africa 67th.
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