Indian Black Money @ Swiss: How Many Times Increased?

It is already known that a large portion of the Indian wealthy population holds a significant amount of money in this Switzerland bank accounts. This is largely due to the fact that this Switzerland banking system allows money from all sources without any apprehensions.

This has now resulted in an interesting phenomenon as a significant portion of the Indian black money holders have started to siphon off to the Swiss banks.

Now the latest developments are suggesting that the volume of the Indian black money that is being held in Switzerland bank accounts has nearly tripled over the last three years.

It is being established now that Indian linked funds in Swiss banks tripled in 2024, hitting ₹37,600 crore, after crashing 70% the year before.

This comes shortly after Switzerland has shared full account data with India every year since 2018, and the Swiss National Bank itself says this isn't black money.

The fact that the volume of the Indian black money in Switzerland bank account has nearly multiplied three times in the last three years, despite the significant crash, last year is as alarming as it can get.

It is evident that people have started to trust this Switzerland banking system with everything they have got and depositing offshore money here happily.

It has to be seen how the Indian authorities would be dealing with this scenario as the volume of the black money is simply going beyond reach.