The Indian deposits in the banks in Switzerland runs to about US $ 25 billion, says an official estimate by the Swiss National Bank.

An official of the bank has reportedly stated that the liabilities of Swiss banks towards Indian clients during 2010 were about 1.9 billion Swiss francs, which converts to US $ 25 billion. This roughly translates to Rs 12,500 crore.

However, opposition parties in India have been alleging that about US $ 1.5 trillion (over Rs 50 lakh crore) black money had been hoarded by Indians in Swiss Banks.

Reports state that ever since 2008, the Indians have been steadily transferring their deposits to various other countries due to various reasons, including legal suits against Swiss banks, financial crisis and mounting Internation pressure on the banks to disclose information on deposits.