Swiss Banks are holding over 2.55 billion Swiss francs for ultra rich Indians and Indian firms, this is the highest in over 13 years as per annual data from Switzerland's central bank.
A sharp surge in holdings via securities and similar instruments helped reverse a two year declining trend in the account holdings that had hit a record high of 6.5 billion Swiss francs (Rs 52,500 cr) as reported by PTI.
These are official figures reported by banks to the SNB and does not indicate the quantum of the much-debated alleged black money held by Indians in Switzerland.These figures also do not include the money that Indians, NRIs or others might have in Swiss banks in names of third-country entities.