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Articles for Citibank, search results for crore

RBI penalises ₹10.34 crore on Citibank, BoB, IOB for non-compliance
1 year, 1 month ago

RBI penalises ₹10.34 crore on Citibank, BoB, IOB for non-compliance

Hindustan Times  

The Reserve Bank on Friday imposed penalties totalling ₹10.34 crore on Citibank, Bank of Baroda, and Indian Overseas Bank for contravention of various regulatory norms. The highest penalty of ₹5 crore has been imposed on Citibank NA for non-compliance of norms related to depositor education and awareness fund scheme, and code of conduct on outsourcing of financial services, the RBI …

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Axis Bank Completes Acquisition of Citibank's India Business; What It Means For Customers
1 year, 9 months ago

Axis Bank Completes Acquisition of Citibank's India Business; What It Means For Customers

News 18  

Mumbai-headquartered Axis Bank has completed the acquisition of the India consumer business of the Citigroup-owned foreign bank Citibank for Rs 12,325 crore. The deal, announced in March 2022, will see India’s third largest private sector bank absorbing Citibank’s consumer businesses covering loans, credit cards, wealth management and retail banking operations in India. In a stock exchange filing last week, Axis …

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Axis Bank's Acquisition of Citi's Consumer Business in India for Rs 12,325 Crore Gets CCI Nod
2 years, 4 months ago

Axis Bank's Acquisition of Citi's Consumer Business in India for Rs 12,325 Crore Gets CCI Nod

News 18  

The Competition Commission of India has approved the Rs 12,325 deal of Axis Bank’s acquisition of Citibank’s consumer businesses in India, the authority announced on Tuesday, July 26. “Commission approves acquisition of Citibank, N.A.’s and Citicorp Finance Limited’s undertakings comprising of their consumer banking activities by Axis Bank,” the CCI said on Twitter. Commission approves acquisition of Citibank, N.A.’s and …

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Citibank Commits ‘Biggest Blunder In Banking History’; Transfers Over Rs 6000 Crore By Mistake
3 years, 10 months ago

Citibank Commits ‘Biggest Blunder In Banking History’; Transfers Over Rs 6000 Crore By Mistake

ABP News  

In what is being termed as “one of the biggest blunders in banking history”, the Banking giant Citibank accidentally transferred USD 900 million to cosmetic company Revlon's lenders instead of creditors. The court explained: "When a beneficiary receives money to which it is entitled and has no knowledge that the money was erroneously wired, the beneficiary should not have to …

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'Biggest Blunder in Banking History': Citibank Wired $900 Million to Lenders by Mistake. What Lies Ahead
3 years, 10 months ago

'Biggest Blunder in Banking History': Citibank Wired $900 Million to Lenders by Mistake. What Lies Ahead

News 18  

Citibank acting as a loan agent to cosmetic company Revlon, accidentally transferred USD 900 million to the company’s lenders. Despite all this, there are rare cases where accidental money transfers happen either due to a bank’s error or on the part of customer. To avoid such incidents, a customer needs to thoroughly check the account details of the beneficiary and …

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