Kejriwal says his expose is about how India's economic sovereignty is at stake.

Explaining how hawala transactions work, he says HSBC is openly and brazenly running a hawala racket in India.

"From their statements, it appears that perhaps it is easier to open a Swiss bank account than it is to open an account in SBI. You just need to contact HSBC in India. They would send someone at your home, who would get forms filled up, take money in cash from you and your account would get opened in Geneva or Dubai. You don't need to go out of India to open an account.

"Likewise, you don't need to visit abroad to operate your account. You are given the name and mobile no of someone in Geneva. If you have to deposit cash or withdraw money, you just call up that person. Immediately someone in India from HSBC would visit your house.

"If you have to deposit cash, you hand over the cash to that person. Corresponding amount in dollars would get credited to your account in Switzerland. If you have to withdraw money, that person would deliver that much cash to you," says Kejriwal.