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Official Indian funds in Swiss banks go up

Switzerland on Thursday said the quantum of money held by Indians in Swiss banks stood at 2.18 billion Swiss francs (about Rs. 12,740 crore) at the end of 2011, having risen for the first time in the past five years. 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, shows the latest data disclosed by the Swiss National Bank (SNB) in its annual handbook on Swiss banks published on Thursday.

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