Swiss banks owe Indian holders Over $2.5 bn: Swiss Central Bank

The Swiss Central Bank has estimated the total liabilities of Swiss banks toward Indian accout holders at about $2.5 billion in 2010 as against the $1.5 trillion figure projected by some political parties and non-governmental organisations. "The Swiss National Bank can only say that liabilities of Swiss banks toward Indian holders according to our annual statistics... were Swiss francs 1.945 billion ($2.5 billion) in 2010," the spokesperson for the Swiss National Bank President, Walter Meier , said. He said the liabilities of the Swiss banks toward Indian account holders was 1.965 billion Swiss francs ($2.7 billion) in 2009 and 2.4 billion Swiss francs (about $3 billion) in 2008.

Source : Economic Times