{"id":1296683,"date":"2025-06-21T09:23:57","date_gmt":"2025-06-21T03:53:57","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1296683"},"modified":"2025-06-21T09:24:33","modified_gmt":"2025-06-21T03:54:33","slug":"indian-money-in-swiss-banks-increase-3-times-to-reach-rs-37500-crore","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/indian-money-in-swiss-banks-increase-3-times-to-reach-rs-37500-crore\/","title":{"rendered":"Indian Money In Swiss Banks Increase 3-Times To Reach Rs 37,500 Crore"},"content":{"rendered":"\n<p>In a sharp reversal from the previous year, Indian money parked in Swiss banks more than tripled in 2024, reaching <strong>CHF 3.54 billion<\/strong>, which is approximately <strong>\u20b937,600 crore<\/strong>, as per the Swiss National Bank (SNB). This is the <strong>highest level since 2021<\/strong>, marking a significant rebound after a 70% dip in 2023.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"592\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/06\/Screenshot-2025-06-21-at-9.21.45\u202fAM-1024x592.png\" alt=\"Indian Money In Swiss Banks Increase 3-Times To Reach Rs 37,500 Crore\" class=\"wp-image-1296684\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/06\/Screenshot-2025-06-21-at-9.21.45\u202fAM-1024x592.png 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/06\/Screenshot-2025-06-21-at-9.21.45\u202fAM-300x173.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/06\/Screenshot-2025-06-21-at-9.21.45\u202fAM-768x444.png 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/06\/Screenshot-2025-06-21-at-9.21.45\u202fAM.png 1402w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Where Is the Money Coming From?<\/h3>\n\n\n\n<p>Surprisingly, most of the rise came not from individuals but from <strong>bank channels and financial institutions<\/strong>. Deposits directly made by Indian individuals rose only <strong>11%<\/strong>, reaching <strong>CHF 346 million<\/strong> (<a href=\"https:\/\/economictimes.indiatimes.com\/news\/india\/indian-money-in-swiss-banks-jumps-more-than-three-time-in-2024-hits-rs-37600-crore-data-shows\/articleshow\/121957274.cms?from=mdr\">about \u20b93,675 crore<\/a>). This constitutes merely <strong>one-tenth<\/strong> of the total Indian-linked funds in Switzerland.<\/p>\n\n\n\n<p>The SNB clarified that the <strong>CHF 3.54 billion<\/strong> includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>CHF 3.02 billion<\/strong> through other banks<\/li>\n\n\n\n<li><strong>CHF 346 million<\/strong> in personal customer accounts<\/li>\n\n\n\n<li><strong>CHF 41 million<\/strong> via fiduciaries or trusts<\/li>\n\n\n\n<li><strong>CHF 135 million<\/strong> in bonds, securities, and other financial instruments<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Is It Black Money? Swiss Authorities Say No<\/h3>\n\n\n\n<p>Every time these figures are released, concerns about <strong>&#8220;black money&#8221;<\/strong> resurface. However, <strong>Swiss authorities have reiterated<\/strong> that the presence of Indian assets in Swiss banks <strong>does not automatically mean illicit activity<\/strong>.<\/p>\n\n\n\n<p>\u201cAssets held by Indian residents in Switzerland cannot be considered as black money,\u201d said Swiss officials, highlighting the country&#8217;s ongoing cooperation with Indian tax authorities.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Transparency Through Data Exchange<\/h3>\n\n\n\n<p>Since 2018, Switzerland has been sharing <strong>annual financial information<\/strong> with India under an <strong>automatic exchange of information (AEOI)<\/strong> agreement. The first data exchange took place in <strong>September 2019<\/strong>, and <strong>hundreds of cases<\/strong> have since been shared.<\/p>\n\n\n\n<p>This effort aims to crack down on <strong>tax evasion<\/strong> and boost <strong>transparency<\/strong>, though details of specific account holders remain confidential.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">India Climbs Global Rankings, But Still Trails Major Economies<\/h3>\n\n\n\n<p>India rose from <strong>67th to 48th place<\/strong> globally in terms of money held in Swiss banks in 2024. However, this is still below the <strong>46th rank in 2022<\/strong>.<\/p>\n\n\n\n<p>Other South Asian countries showed mixed trends:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Pakistan:<\/strong> Down to CHF 272 million<\/li>\n\n\n\n<li><strong>Bangladesh:<\/strong> Rose to CHF 589 million<\/li>\n<\/ul>\n\n\n\n<p>Globally, the <strong>UK topped<\/strong> the list with <strong>CHF 222 billion<\/strong>, followed by the <strong>US<\/strong> and <strong>West Indies<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">BIS Data Shows Similar Growth Trend<\/h3>\n\n\n\n<p>Separately, the <strong>Bank for International Settlements (BIS)<\/strong> reported a <strong>6% rise<\/strong> in Indian non-bank client deposits and loans with Swiss banks in 2024, now at <strong>USD 74.8 million<\/strong> (approx \u20b9650 crore).<\/p>\n\n\n\n<p>Though modest, this uptick ends a <strong>three-year decline<\/strong> and shows growing Indian activity in global banking.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.indiatoday.in\/business\/story\/indian-funds-swiss-banks-triple-banking-routes-see-sharpest-surge-2743425-2025-06-20\">Image Source<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>In a sharp reversal from the previous year, Indian money parked in Swiss banks more than tripled in 2024, reaching CHF 3.54 billion, which is approximately \u20b937,600 crore, as per the Swiss National Bank (SNB). This is the highest level since 2021, marking a significant rebound after a 70% dip in 2023. Where Is the [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1296684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[8106],"class_list":["post-1296683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-swiss-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Indian Money In Swiss Banks Increase 3-Times To Reach Rs 37,500 Crore - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/indian-money-in-swiss-banks-increase-3-times-to-reach-rs-37500-crore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indian Money In Swiss Banks Increase 3-Times To Reach Rs 37,500 Crore - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"In a sharp reversal from the previous year, Indian money parked in Swiss banks more than tripled in 2024, reaching CHF 3.54 billion, which is approximately \u20b937,600 crore, as per the Swiss National Bank (SNB). 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