CURRENT AFFAIRS

Detailed explanation-1: -India was placed at 44th place, ahead of countries like Poland, South Korea, Sweden, Bahrain, Oman, New Zealand, Norway, Mauritius, Bangladesh, Pakistan, Hungary and Finland.

Detailed explanation-2: -Swiss bank minimum balance requirements There are no minimum balance requirements for Swiss residents, including expats. A Swiss resident can open an account without sending money after having opened it.

Detailed explanation-3: -The Swiss National Bank expects a $143 billion loss for the 2022 financial year, the biggest loss in its 116-year history. It lost 131 billion francs on foreign currency positions and 1 billion on Swiss franc positions as the franc gained.

Detailed explanation-4: -Swiss banking protects your identity. The main advantage with Swiss banks is that they protect the privacy of their customers. Swiss law creates a kind of “bank secrecy” where it’s actually illegal to divulge the identity of their account holders.

Detailed explanation-5: -The Swiss bank had sold billions of dollars of Greensill’s debt to investors, assuring them in marketing material that the high-yield notes were low risk because the underlying credit exposure was fully insured. A number of investors have sued the Swiss bank over the Greensill-linked funds.