Housing racket not to affect industry: HSBC

The alleged housing loan racket, unearthed by the Central Bureau of Investigation (CBI) on Wednesday, is unlikely to have its fall-out on the home loan industry, a top banker said.

"One incident does not spoil the whole industry. In every sector such things have happened," HSBC Group Country Head Naina Lal Kidwai told reporters on the sidelines of a function here.

"We have had Satyam but it does not mean that the whole IT industry is bad. It is hard to paint every one with the same brush because of one incident," she added.

Kidwai, however, said action must be taken against the guilty.

"Action must be swift and it must be taken," she said.