Indians have ‘few deposits’ in Switzerland: Swiss banks

Geneva: The Association of Swiss Private Banks said that Indians have rather ‘few deposits’ in Swiss banks compared to those in financial hubs like Singapore and Hong Kong.

As per official data, money held by Indians in Swiss banks reduced to Rs.8392 crore, which is just one-third of that in previous years. No data is available for Indian money in other financial hubs.

The Association’s manager Jan Langlo said that it is more practical for Indians to “open an account in an Asian financial centre than in Switzerland.”