Indians' money in Swiss banks may have risen for the first time in five 
years, but they account for a meagre 0.14 percent of total foreign 
wealth deposited there -- putting India at 55th place globally for such 
funds.
 The total overseas funds in Switzerland's banking system 
stood at 1.53 trillion Swiss francs (about Rs 90 trillion) at the end of
 2011, which included 2.18 billion Swiss francs (Rs 12,700 crore) 
belonging to Indian individuals and entities.     
While India 
accounted for only 0.14 percent of total foreign money in Swiss banks, 
the UK accounted for the largest share of little over 20 percent, 
followed closely by the US with about 18 percent. 
As per the 
latest data disclosed by Swiss National Bank (SNB), Switzerland's 
central bank, India is now ranked 55th in terms of funds belonging to 
overseas clients in Swiss banks. 
Among the top-ranked 
jurisdictions, the UK and the US were followed by West Indies, Jersey, 
Germany, Bahamas, Guernsey, Luxembourg, Panama and France, Hong Kong, 
Cayman Islands, Japan, Singapore, Australia, Italy, Netherlands, Russia,
 Saudi Arabia and United Arab of Emirates. 
The SNB data shows 
that the quantum of money held by Indians in the Swiss banking system 
rose for the first time in five years during 2011. 
These 
official figures, described by SNB as 'liabilities' of Swiss banks 
towards their clients from various countries, do not indicate towards 
the quantum of the much-debated alleged black money held by Indians or 
other nationals in the safe havens of Switzerland. 
Also, SNB's figures do not include the money that Indians or other nationals might have in Swiss banks in others' names.
The
 total funds held by Indian individuals and entities include 2.025 
billion Swiss francs held directly by them and 158 million held through 
'fiduciaries' or wealth managers. 
Fiduciaries are essentially 
wealth fund managers who hold the money of Indian private holders and 
families in the so-called numbered accounts. 
The Swiss banks' 
direct liabilities towards clients from India include funds held in 
savings and deposit accounts by Indian individuals, financial 
institutions and corporates. 
India is ranked 55th in terms of 
only direct deposits as well, while it is placed much lower at 76th rank
 for fiduciary funds, where the top-ranked jurisdictions include West 
Indies, Panama, UK, Saudi Arabia, Bahamas, Liberia, Cayman Islands, UAE,
 Turkey, Russia, Germany and the US. 
Pakistan is ranked higher 
than India at 52nd place in terms of fiduciary funds (355 million (rpt) 
million Swiss francs), but lower at 60th for total money (2.12 billion 
Swiss francs).     
While the funds belonging to Indians rose by 
about Rs 3,500 crore last year, the total foreign money there rose by 
about Rs two lakh crore (more than 36 billion Swiss francs). 
The
 quantum of funds held by Indians in Swiss banks had last increased in 
2006 by about one billion Swiss francs to 6.5 billion Swiss francs (over
 Rs 40,000 crore), but fell to less than one-third by the end of 2010. 
In
 a White Paper on black money tabled in Parliament last month, the 
government had also said that Swiss banks' total liabilities towards 
Indians have been coming down and fell by more than Rs 14,000 crore 
between 2006 and 2010.     
Amid allegations of Indians stashing 
huge amounts of illicit wealth abroad, including in Swiss banks, the 
government says it is making various efforts to bring back the 
unaccounted money.
As per SNB data, funds held by Indians 
directly in the Swiss banks increased by about 370 million Swiss francs 
to 2.025 billion Swiss francs (Rs 11,800 crore) in 2011.    
On 
the other hand, the funds held through 'fiduciaries' nearly halved to 
158 million Swiss francs (about Rs 900 crore) in 2011 -- marking the 
fifth straight year of decline. 
The experts have been saying 
that there has been a "perceptible flight of funds" of Indian holders 
from Swiss banks to other places in the recent years. 
The 
foreign capital-friendly regulations in places like Mauritius and Dubai 
were possibly being exploited by those seeking to move their funds away 
from Swiss banks, which have come under strict scrutiny of late. 
At
 the same time, the global pressure has been rising on Switzerland to 
ask its banks to share information about their clients with foreign 
governments. 
It is suspected that Indians having illicit wealth 
in Swiss banks may be moving their funds in fear of being exposed due to
 growing scrutiny. At the same time, even those having legitimate funds 
in Swiss banks may be moving away, due to a growing level of negativity 
attached to them. 
The countries placed above India in terms of 
total funds in Swiss banks also include Ireland, Spain, Israel, Canada, 
Brazil, Greece, China, Egypt, Thailand, Philippines, South Korea and New
 Zealand. Those ranked below India include Qatar, South Africa, 
Pakistan, Bahrain, Kenya, Nigeria and Iran.