India has moved down one place to 74th rank in terms of money parked by its citizens and enterprises with Swiss banks, while the UK has retained its top position, as per data released by the central banking authority of the Alpine nation.
India was ranked 73rd last year, after jumping 15 places from its 88th position in 2017.
An analysis of the latest annual banking statistics released by the Swiss National Bank shows that India remains ranked very low when it comes to money parked by Indian individuals and enterprises in Swiss banks, including through their India-based branches, while accounting for just about 0.07 per cent of the aggregate funds parked by all foreign clients of Swiss banks.