Activists approach RBI against HSBC on black money, hawala allegations

Two activists from Lucknow have urged the RBI Governor to enquire into the allegations and cancel the licence of HSBC, if found true. 

Lucknow-based activists Amitabh Thakur and Dr Nutan Thakur have approached the Reserve Bank of India (RBI) with regard to allegations of facilitating deposit of black money in Switzerland and hawala transactions by Hong Kong and Shanghai Banking Corporation (HSBC). The activists said that they wrote to RBI Governor D Subbarao after HSBC denied all the allegations in reply to their earlier complaint to the central bank..........

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