Indian money in Swiss banks rises 50%
June 30th, 2018
Money parked by Indians in Swiss banks rose over 50% to Swiss Francs (CHF) 1.01 billion (Rs. 7,000 crore) in 2017, reversing a three-year downward trend. The surge comes as a surprise given India’s continuing clampdown on suspected black money stashed abroad. The Indian money in Swiss banks had fallen by 45% in 2016, marking their biggest ever yearly plunge.