Increase in Indian investments at Swiss bank; 2020 witnessed major hike

New Delhi: The Swiss bank is witnessing a major increase in funds by Indian clients, including funds from Indian individuals and financial institutions. By the end of 2020, the 'Indian' funds in Swiss bank reached around Rs 20,700 crore.

Interestingly, by the end of 2019, the funds at Swiss bank was about Rs 6,625 crore which has now increased to become the highest in 13 years. Before this, the swiss bank had its highest record of Indian funds in 2006, after which it faced a gradual decrease.

Apart from the direct investments, Indian citizens have made their deposits through bonds and securities. However, it has been hinted that whole accounts of black money deposits made by Indians at Swiss bank haven't been included in this data.