https://www.taxtmi.com/news?id=47087 Swiss central bank data show total liabilities of Swiss banks to Indian clients rose to CHF 3.545 billion in 2024, driven mainly by interbank and fiduciary holdings while direct customer deposits grew only modestly. SNB figures cover deposits, branches and non-deposit liabilities and differ from BIS locational statistics, which more narrowly capture deposits of Indian individuals. The reported data do not constitute determinations of illicit assets and do not include accounts held via third country entities. An automatic exchange of information with India has been in force since 2018 and Switzerland also shares information on suspected wrongdoing upon prima facie evidence. en-us Thu, 19 Jun 2025 20:31:04 +0530 Thu, 19 Jun 2025 20:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=47087 Swiss central bank data show total liabilities of Swiss banks to Indian clients rose to CHF 3.545 billion in 2024, driven mainly by interbank and fiduciary holdings while direct customer deposits grew only modestly. SNB figures cover deposits, branches and non-deposit liabilities and differ from BIS locational statistics, which more narrowly capture deposits of Indian individuals. The reported data do not constitute determinations of illicit assets and do not include accounts held via third country entities. An automatic exchange of information with India has been in force since 2018 and Switzerland also shares information on suspected wrongdoing upon prima facie evidence. News - Thu, 19 Jun 2025 20:31:04 +0530 https://www.taxtmi.com/news?id=47087