HSBC Bank India HSBC Bank India HSBC Bank India, is an Indian subsidiary of UK-based HSBC Holdings plc, is a bank with its operational head office in Mumbai. It is a foreign bank under the Banking Regulation Act, 1949 and thus is regulated by the Reserve Bank of India (RBI). HSBC Technology India (HTI), previously called HSBC Global Technology (GLT), is part of HSBC Technology, the Bank's technology function. HTI is located in Pune, India, and Hyderabad, India, with the former being the headquarters. HSBC Technology India has been in existence for over 15 years, and currently supports majority of the software products
Reserve Bank of India Act, 1934 manage public debt. The Section 22 says that only RBI has the exclusive rights to issue currency notes in India. The Section 24 states that the maximum denomination a note can be . The section 26 of Act, describes the legal tender character of Indian bank notes. The Section 28 allows the RBI to form rules regarding the exchange of damaged and imperfect notes. The Section 31 says that in India only the RBI or the central government can issue and accept promissory notes that are payable on demand. However, cheque, that are payable on demand, can be issued by