India deputies divided on foreign-bank penalty

Indian deputies are unable to reach a decision on what punishment to recommend for foreign banks allegedly involved in what is being called India's worst financial scandal. Parliament is expected to review the Joint Parliament Committee's final report on the $1.28 billion stocks and securities scandal at the upcoming session. One unnamed parliamentary committee member suggested that all four be put out of business. Others would recommend a less severe punishment. The banks involved include Standard Chartered Bank, ANZ Grindlays, Bank of America and Citibank.