if Indian money deposits have dipped in Swiss banks and if we assume this was all black money, where did all this money go,
The Swiss National Bank (SNB) further said its figures include the "data from branches of Swiss banks in India" and therefore the locational banking statistics (LBS) compiled by the Bank for International Settlements (BIS), a global central banking body, would be more reliable.
Indian money stashed in Swiss banks swells by 50%: Strong action will be taken against illicit deposits, says Piyush Goyal
India would start getting details of bank accounts from Switzerland under a bilateral treaty, finance minister Piyush Goyal said
Indian money stashed away in Swiss banks rise 50% to Rs 7,000 cr in 2017, according to official data
The surge in Indian money held with Swiss banks comes as a surprise given India's continuing clampdown on suspected black money stashed abroad, including in banks of Switzerland that used to be known for their famed secrecy walls for years.
India's holdings now accounts for a meagre 0.123 percent of total global wealth worth $1.6 trillion in Switzerland's banking system
The Swiss National Bank on Thursday said it would introduce a negative exchange rate of -0.25 percent on sight deposit account balances at the central bank as it seeks to deter safe-haven buying.
Amid concerns of bullion trade being used for routing of black money, Switzerland's gold exports to India have risen further and is fast approaching Rs one-trillion mark for the entire 2014.
Swiss voters on Sunday flatly rejected in a referendum a proposal stipulating the central bank in Switzerland to increase its gold reserves