Indians' funds in Swiss banks down 11% to ₹30,000 crore in 2022

Funds parked by Indian individuals and firms in Swiss banks declined by 11% in 2022 to 3.42 billion Swiss francs (nearly ₹30,000 crore), as per annual data from Switzerland's central bank. The decline comes following a 14-year-high of 3.83 billion Swiss francs in 2021. The decline was largely driven by a sharp plunge of nearly 34% in customer deposit accounts.