The pace of hiring by private sector companies was also slowest in seven months, as per a monthly HSBC India survey of services sector managers.
The Reserve Bank on Thursdaysaid it is keeping a close watch on global banking major HSBC.
Preservation of wealth has become the mantra as private bankers are broadening their relationships with exporter communities and family-owned firms.
The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, remained only just above the neutral threshold of 50.0 in September, signalling muted output growth in emerging markets.
Herve Falciani, who refused to appear for trial in Switzerland, has been charged of industrial espionage.
Probe found that HSBC's Anti-Money Laundering Compliance Department was highly inadequately staffed.
Uruguayan soccer player Diego Forlan on Monday denied evading taxes by hiding money in Swiss accounts with the British bank HSBC Holdings PLC.
Names of 100,000 a/c holders in HSBC's Swiss unit recently became public.
The Securities and Exchange Board of India began its formal investigation into the complaint earlier this year.
The HSBC/Markit purchasing managers index for the manufacturing industry stood at 50.1 in July, slightly more than 50.3 in June, indicating a broad stagnation of manufacturing operating conditions in India.
From the Sensex basket, Kotak Mahindra Bank, HCL Technologies, ICICI Bank, Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and Larsen & Toubro were the major laggards. Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers.
The entire HSBC list features names of 1,668 Indians
Facing black money investigations in India and several other countries, global banking giant HSBC on Monday said it is also being probed in the US for hiring candidates related to government officials in Asia Pacific.
Switzerland, UK, Venezuela, US and France are t
Investors have been hoping for a cyclical recovery.
Hongkong and Shanghai Banking Corporation (HSBC) is looking at entering the retail broking business to benefit from the rapidly growing middle class investors in India. It may scout for an existing retail broking house to hasten the pace of setting up business.
Data for the four largest emerging economies showed contrasting activity trends in November. China registered growth for the seventh month running, while India posted the fastest growth since June.
The chief operating officer of HSBC Holdings, A W Jebson informed that HSBC board would meet in Mumbai on November 25.
In the latter half of the year, there would be some economic recovery and return to normal business conditions.
India's manufacturing sector activity contracted for the second consecutive month in September as both output and new orders witnessed a decline, an HSBC survey said.
The bank said it is cooperating with the US Department of Justice and the Internal Revenue System (IRS) in their probes into whether certain HSBC companies and employees acted appropriately in relation to certain customers with US tax reporting requirements.
The government expects the economy to grow by 7-7.75 per cent in the current fiscal.
According to the global financial services major, FII flows in May were mixed, with investors being more selective.
The HSBC India Manufacturing Purchasing Managers' Index -- a measure of factory production -- stood at 54.7 in December, up from 53.7 in November, indicating a further improvement in the health of the Indian manufacturing sector.
'We suggest an equity strategy of 5% to 10% exposure to cash, 5% to Gold ETF, close to 50% to Sensex/Nifty/large mid-cap stocks.'
'Corporations that were recruiting 15 or 20 [students] have reduced the number to two or three.'
Rural inflation running higher than urban: HSBC
The bank is looking to combat financial times.
HSBC has cut Reliance Industries to 'underweight' from a 'neutral' rating.
Bank has apologised and vowed it has recently overhauled its anti-money-laundering efforts.
HSBC's India staff have come under the scanner for deficiencies in their role as 'offshore reviewers' of the global banking giant's compliance to safety mechanism against money laundering and terrorist financing.
What were the Indian authorities doing all these years, especially when it was well known universally that all was not well within HSBC?
What were the Indian authorities doing all these years, especially when it was well known universally that all was not well within HSBC?
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.
India's services sector growth rate saw a slight fall in July but remained in the positive terrain for the ninth month in a row, amid rise in new orders and employment levels holding up, an HSBC survey says.
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