In the case of Swiss banks depositing money by citizens and companies of any country, India reached 73 in 2017. In this case Britain remains on top. In 2016, India's position was 88th in this case.

According to a recent report of Swiss National Bank, in the year 2017, the deposits of Indians in Swiss banks increased by 50 per cent and it became almost 7,000 crore rupees. In 2016, it dropped by 44 percent and India's position was 88th.

In this list, the neighboring country Pakistan has been ranked 72st. Although it is less than its previous position, the money it deposits has decreased 21 percent during the year 2017. In the report of Swiss National Bank, this money has been shown as liability towards its customers. Therefore, it is not clear how much of that time is black money.

These official figures are issued annually by the Central Bank of Switzerland. These figures do not include funds deposited in the name of units from other countries by Indians, NRIs and others. It is often alleged that people of Indian and other countries deposit their illegal earnings to Swiss banks, which are considered as safe havens to avoid taxes.

Although Switzerland has signed a deal to share automatic information with many countries including India. With this, India will start getting the information of depositors in Swiss Bank automatically from January next year. It is notable that according to the money, India's position was 75th in 2015 and 61st in 2014. Britain is the first and USA is the second place in the list.

The top ten countries include West Indies, France, Hong Kong, Bahamas, Germany, Guernsey, Luxembourg and Cayman Islands. China ranked 20th in the list of BRICS countries, Russia's 23rd, Brazil's 61st, South Africa's 67th. In neighboring countries Mauritius is ranked 77th, Bangladesh's 95th, Sri Lanka's 108th, Nepal's 112th and Afghanistan's 155th place.

Between 1996 and 2007, India was among the top 50 countries on this list. Then in 2008, it was 55th, 59th in 2009 and 2010, 55th in 2011, 71st in 2012 and 58th in 2013.

(Click here for Android APP of IBTN. You can follow us on facebook and Twitter)

Share This News

About sharing