Hope to get buyer for consumer biz by Q4: Citi India CEO Ashu Khullar

Despite being a foreign bank, we move 7-10 per cent of the Indian payment systems, says CEO Khullar

In his first interview after the announcement of exiting the consumer banking business, ASHU KHULLAR, Citi India’s chief executive officer, tells Pavan Lall that the bank aims to double down on its institutional business, and that India’s story as a financial market remains strong. Edited excerpts:

What’s the status of the sale process of the consumer banking business? What does this strategy mean to your business in India? 

This was a strategic decision taken by the new leadership. What it really says is that we have to make some capital deployment and redeployment calls — areas where Citi is competitive globally in