Hongkong Shanghai Bank Corp (HSBC) has vehemently denied the various allegations made in a complaint
by me and wife Nutan to the Governor, RBI about allegations of the Bank
facilitating in getting black money stashed in Swiss Banks and brazenly
running a hawala racket in India, encouraging tax evasion and HSBC,
Dubai and Geneva not having a license from RBI to conduct banking
operations in India and their operations in India were completely
illegal. Based on these allegations, we had asked RBI to enquire into
the allegations and cancel grant of licence under section 22(4) of the
Banking regulations Act 1949, if found true.
RBI asked HSBC to
look into the complaint and respond in 30 days. Ms Seema Mehta, Chief
Nodal Officer, HSBC, through her letter dated 20 December 2012, has said
that the Bank takes compliance with the law very seriously and with a
new senior global leadership team and a new strategy since last year, it takes concrete steps to strengthen compliance.
But we don't feel satisfied with the response as the core issues in the
compliant are still completely untouched and unanswered. Hence, we have
again written to the Governor, RBI to get the allegations enquired and
take suitable legal actions.
The matter is serious and needs a persistent effort, isn't it?
I present a copy of the complaint and the various letters sent to us by RBI and HSBC, for your kind response and guidance.