Deposits held in Swiss banks not necessarily located in Switzerland: Swiss authorities tell Centre
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Swiss authorities have conveyed to the finance ministry that customer deposits held in Swiss banks are not necessarily located in Switzerland and also include deposits at their foreign branches, Minister of State for Finance Pankaj Chaudhary said. As per the latest data from SNB, funds parked by Indian individuals and firms in Swiss banks, jumped to a 13-year high of 2.55 billion Swiss francs in 2020.