Citibank Shuts Down Banking Operations In India


Citibank, the world’s leading banking institution on Thursday announced its exit from the consumer banking business in India. Citibank’s retail business has multiple divisions such as credit card savings, bank accounts and personal loans. Regarding the decision to exit retail banking in India, Citibank said it was part of its global strategy. The level has decided that 13 markets will come out of business. Citibank India has 35 branches and serves 2.9 million retail customers with 1.2 million bank accounts and 2.2 million credit cards accounts. Ashu Khullar, CEO, Citi India, said, “There is no immediate change to our operations and no immediate impact to our colleagues as a result of this announcement. In the interim, we will continue to serve our clients with the same care, empathy and dedication that we do today.”



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