India Slips to Place to 74th in Terms of Money in Swiss Banks

The annual banking statistics report compelled by the Swiss National Bank (SNB), India slipped to 74th place in terms of money with Swiss banks. UK (United Kingdom) remained top in the list of the survey.
India holds 6% in 2018 to 955 million Swiss francs (about Rs.6,757 crore) A second lowest level in over two decades.

The top-ranked countries in the list are:

1.UK, the US (United States)
2. West Indies, France, and Hong Kong.

India placed at 75th position in the year 2015 it obtained 61st in 2014 India ranked highest at 37th place in the year 2004. The total money held in Swiss banks by foreign clients across the world about 4 percent to CHF 1.4 trillion (about Rs 99 lakh crore) in the year 2018. The United Kingdom accounted at CHF 372 billion

It is over 26% of the total foreign funds till December 2018. USA remains second with CHF 144 billion accounts 10.3% of foreign funds. India lowest ranked among the BRICS nations. Russia is ranked the highest (20th) followed by China (22nd), South Africa (60th) Brazil (65th). India’s neighboring nations ranked lower with Pakistan(82nd), Bangladesh (89th), Nepal (109th), Sri Lanka (141st), Myanmar (187th) and Bhutan (193rd).

About Swiss National Bank:

A central bank of Switzerland is responsible for the monetary policy of the nation of Switzerland and also for the issuing of Swiss franc banknotes.
Chairman: Thomas Jordan
Headquarters: Bern and Zurich

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