Last year, HSBC agreed to pay $1.92 billion to settle allegations of violating American sanctions with respect to Iran and other countries, among others.
HSBC Holdings plc on Thursday said it was keen to study the opportunities available in the Indian insurance sector, including pension fund.
The chief operating officer of HSBC Holdings, A W Jebson informed that HSBC board would meet in Mumbai on November 25.
After investing $150 million this year, HSBC is willing to step up investments in India as it expects the economy to sustain over 7 per cent growth in the coming years.
Some other tax authorities are looking at the allegations.
The potential settlement, which has been in the works for months, is emerging as a test case for just how big a signal US prosecutors want to send to try to halt illicit flows of money moving through US banks.
HSBC Mexico said it paid a 'fine imposed by the National Banking and Securities Commission (CNBV), amounting to MXN 379 million (about $27.5 million), in connection with non-compliance with anti-money laundering systems and controls, including reporting requirements with regard to unusual transactions, as well as other prudential regulations.'
Global banking giant HSBC on Monday said Infosys chief mentor N R Narayana Murthy will join its board in May with an annual renumeration of 65,000 pounds (about Rs 52 lakh).
Uruguayan soccer player Diego Forlan on Monday denied evading taxes by hiding money in Swiss accounts with the British bank HSBC Holdings PLC.
HSBC admitted to a breakdown of controls and apologised in a statement announcing it had reached a deferred-prosecution agreement with the US Department of Justice, as was first reported by Reuters last week.
The bank believes that that gold prices will recover this year and retain a pronounced bullish posture.
An estimated 10,000 to 20,000 jobs will be axed, according to a media report
HSBC's Swiss bank routinely allowed clients to withdraw "bricks" of cash
The deal fell as the transaction deadline expired. RBS said that it will wind-down its banking operations in the country.
Cuts its 2013 price forecast to $1,760 an ounce from $1,850.
Swiss police in February searched HSBC offices in Geneva as part of its probe.
Market meltdown and volatility pushed many traders to the sidelines.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
Anglo-Dutch FMCG giant Unilever Plc's $ 5.4 billion open offer to increase stake in its Indian arm Hindustan Unilever Limited (HUL) to up to 75 per cent commenced on Friday.
Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of Australia have scaled down their operations in India. In a mega-deal announcement on Wednesday, Axis Bank and Citibank said their boards have approved acquisition of Citibank's consumer businesses in India by Axis Bank.
According to HSBC's 'Climate Confidence Monitor', one in three people in Vietnam, India and China believe that climate change can be halted, compared to just one in twenty in developed economies such as France and the UK.
India's first ever inside office golf tournament is set to be launched by Allied Domecq Spirits & Wine (I) Pvt. Ltd. (ADSWI), a subsidiary of Allied Domecq PLC, the second largest spirits and wine company in the world and 9 Yards Sports & Entertainme
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
Delaying action on climate change will hurt growth: Global CEOs.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
Move could be aimed at integrating operations with Indian subsidiary.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
Anglo-Dutch parent's stake in Indian subsidiary rises from 52.5% to 67.3%.
The Sensex ended below 28,000 for the second straight day at 27,869.
The 30-share Sensex is down 359 points at 26,378 and the Nifty has dropped 78 points to trade at 7,883
