HSBC is a Publicly Owned financial services group headquartered in the UK. Founded in 1865, the company employs approximately 172,840 individuals. Functioning as a universal bank and financial services group, HSBC has unique historical and business links to East Asia and maintains a highly multinational footprint.
On September 4, 2026, HSBC's Chief India Economist, Pranjul Bhandari, noted that Foreign Currency Non-Resident (Bank) or FCNR(B) deposit inflows surpassed estimates, leading the Reserve Bank of India (RBI) to face a challenge of excessive liquidity. Bhandari suggested the central bank would need to withdraw Rs 6-7 lakh crore within the next 10-15 days to prevent the surplus from becoming inflationary. Earlier the same day, Bhandari also indicated in a research note that India's exporters gained minimal advantage from a weaker rupee, attributing this to high tariffs and gaps in domestic manufacturing that blunted the benefits, with the weakness concentrated in the middle of India’s export sector. Previously, on September 4, HSBC completed the first corporate treasury payment using Swift’s blockchain-based shared ledger alongside BNP Paribas. This pilot transaction, conducted for Siemens, marked a significant step in integrating distributed ledger technology into mainstream cross-border banking. It tested the blockchain infrastructure’s ability to facilitate transfers across separate banking systems while preserving commercial bank money used by corporate customers, specifically moving funds from Siemen’s euro account with BNP in France to HSBC’s sterling account in the UK.
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