The country’s largest foreign bank will sell or shift its business. such an idea can happen. Citi bank of America may close its consumer banking business in India. City bank is the largest foreign bank in terms of assets and profits in India.
Bank has 29 lac customers. The bank has 12 lac accounts and 22 lac credit card accounts.
Citi Bank is not selling retail business under any pressure, so there will be no shortage of buyers. Indian banks are increasing their customers with the help of new technology and products.
If this news is confirmed then it will have a positive impact on Indian PSU and private banks.