The deposits of the people and companies of India in Swiss banks and its Indian branches fell by 6 percent to 89.9 crore Swiss francs (Rs 6,625 crore) in 2019. According to the annual data released on Thursday by Switzerland's central bank SNB. This is the second consecutive year when the deposits of Indians in Swiss banks have decreased. Swiss National Bank (SNB) started collecting data from 1987, since then it has reached the third-lowest level in more than three decades.

According to media reports, at the end of 2019, Swiss banks owed a total of 89.946 crore Swiss francs to Indians. These are the official figures given by banks to SNB. This does not indicate the black money of Indians deposited in Switzerland, which has been discussed. These figures do not include the funds of Indians, NRIs or others who are named after units of third countries in Swiss banks.

According to SNB, all types of accounts have been taken in Swiss banks' liability to Indian customers. This includes deposits of individual banks and companies. It also includes figures of Swiss banks' branches located in India. Earlier, Indian and Swiss authorities had said that the more reliable way of estimating the deposits of Indians was given by the Local Banking Statistics of Bank of International Settlement (BIS).

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