The Finance Ministry has sought details from Swiss authorities on the relevant facts along with their view on possible reasons for changes in the funds parked by individuals and entities in 2020. The Ministry also asserted that Indian customer deposits in Swiss banks have fallen since 2019. In a statement, the ministry said the deposits have halved but did not give numbers. Quoting data from Switzerland’s central bank, funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 13-year high of over Rs 20,700 crore in 2020.
Jun 19, 2021, 01:16PM ISTSource: Times Now