RISE IN MONEY IN SWISS BANKS AND WHAT MAKES THEM SO SPECIAL?

India had slipped to 88th place with a 44 percent plunge in such funds during 2016, but the latest data from the Swiss National Bank (SNB) shows an increase of over 50 percent during 2017 to around Rs 7,000 crore.

India has moved up to 73rd place in terms of money parked by its citizens and companies with Swiss banks, while the United Kingdom remains on the top.

In terms of percentage increase, India's 50 percent rise was 23rd highest. The maximum increase of as much as 4,000 percent was seen by Solomon Islands, followed by over 2,200 percent for Faroe Islands and 1,200 percent for British Indian Ocean Territory.

WHAT MAKES SWISS BANK SO SPECIAL?

Surprisingly, opening a Swiss bank account is not that much different from opening a standard bank account. You have to fill out forms and provide documentation that proves who you are and what you do.

Swiss law requires that banks have high capital requirements and strong depositor protection, which practically ensures that any deposits will be safe from financial crisis and conflict.

Swiss Banks don't share customer information with the governments of any countries(unless been asked about with proof). As such, their is no tax info or account holder information with anyone, except the Swiss Banks.