2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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85th
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70th
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73rd
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82nd
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Detailed explanation-1: -Money parked by Indians in Swiss banks rose over 50% to ₹7000 crore in 2017.
Detailed explanation-2: -The patronage of international clients is critical to Swiss banks and to the Swiss economy as a whole. The Guardian reported that almost half of the 7.9 trillion Swiss francs ($8.59 trillion) of assets under management in Switzerland belong to foreign clients.
Detailed explanation-3: -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-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: -Foreigners are accepted for wealth management purposes only. They can’t open a basic account for the execution of daily payments. Most Swiss private banks expect at least 1,000,000 CHF.