Indians hold about USD 2.5 billion (over Rs 11,000 crore) in Swiss banks, but this figure of Switzerland's central bank may be a gross understatement of the total wealth directly and indirectly held there by entities from India.
The ever-growing judicial scrutiny and political outcry over alleged stashing ofblack money in Swiss banks also seems to be forcing Indian entities to move their monies to other safe havens like the Middle East,Singapore and Mauritius.
Some half a billion dollars have been moved out in the last three years, according to the central bank's figures. Full story
Related:
Indians may have much more than $2.5 bn in Swiss banks - Hindustan Times
Indians may have over $ 2.5 bn in Swiss banks - IBNLive
