HSBC said in court on Thursday that the bank acknowledges the underlying facts, which involved transactions carried out by traders in Paris between 2014 and 2019
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The central bank said the bank failed to ensure that there was no negative amortisation while computing Minimum Payment Due in certain credit card accounts
The accused opened 38 salary accounts in the names of employees, made 28 credit cards and took two loans from HSBC.
A Parliamentary panel today asked the Finance Ministry to expeditiously complete the probe into the names revealed by HSBC on unaccounted money stashed abroad.
The government today informed Parliament that the Income Tax Department and its other wings are probing the information received with regard to foreign bank accounts of individuals and entities with the HSBC bank.