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RETAIL BANKING | Cesar Tordesillas, India
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HSBC still committed to India after money laundering allegations

A cautious reaction.

This is what HSBC Bank India came out with following reports of Arvind Kejriwal's attack on alleged money laundering through its Geneva branch.

The bank said India is the key strategic market for HSBC and it remains committed to investing in and growing its operations in the country.

HSBC assures that "it takes compliance with the law very seriously."

The bank also said it cannot comment on the specific details of the allegations, which relate to issues in the past.

"HSBC takes compliance with the law, wherever it operates, very seriously. With a new senior global leadership team and a new strategy in place since last year, HSBC continues to take concrete steps to strengthen compliance, risk management and culture," the bank said in statement.

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