Business, Economy & Banking Current Affairs

Arvind Kejriwal: HSBC Bank running ‘hawala’ (money laundering) transactions

  • India Against Corruption (IAC) charged HSBC Bank with unning ‘hawala’ (money laundering) transactions. IAC members alleged that Mukesh and Anil Ambani among others, had crores of rupees sitting in Swiss banks.   image
  • Those named were part of the list of 700 people who had accounts with HSBC banks in Switzerland. The list was shared by the French government with India, which, however, did not reveal any name, and the matter is pending in the Supreme Court.


For ‘M-Pesa’ Vodafone partners with ICICI Bank


Vodafone India has launched its mobile money transfer and payment service ‘M-Pesa’ in India. The telecom giant has inked a partnership with ICICI Bank to extend this service in India.

Vodafone will be offering its customers a mobile money account with ICICI Bank and a mobile wallet issued by MCSL (Mobile Commerce Solutions Ltd), via this service.

The ‘M-Pesa’ service will allow customers to make cash deposits and withdrawals from designated outlets as well as make cash transfers to any mobile phone or any bank account in India.