The British bank states it follows due process when selling forex derivatives to eligible client segments in India.
Standard Chartered Bank denies the alleged lapses identified in the sale of derivatives, following a media report stating that the Reserve Bank of India raised concerns and reviewed the bank last week. We would like to reiterate that no lapses have been highlighted by the regulator in the way Standard Chartered Bank is selling complex derivative products to clients in India The bank’s spokesperson told SRP in a statement that it follows “due process for selling forex derivatives,