Zurich/New Delhi: India has slipped to 88th place in terms of money parked by its citizens with Swiss banks, while the UK remains on the top.
Also, the money officially held by Indians with banks in Switzerland now accounts for a meagre 0.04 per cent of the total funds kept by all foreign clients in the Swiss banking system, as per an analysis of the latest figures compiled by the SNB (Swiss National Bank) as on 2016-end.
India was placed at 75th position in 2015 and at 61st in the year before that, though it used to be among top-50 countries in terms of holdings in Swiss banks till 2007. The country was ranked highest at 37th place in the year 2004
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