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Why Citibank is selling its consumer business in India

It's a strategic decision by Citigroup's new CEO, not a reflection on its India operations. Regulators' displeasure and investors' ire are behind it

Topics
Citibank India | Citibank | Banking sector

Tamal Bandyopadhyay 

Tamal Bandyopadhyay

Many moons ago, when I was finding my feet in bank reporting, Sujit Banerji, then corporate business head at NA in India, unfolded before me the bank’s vision to go beyond the elite group of clients and reach out to the masses — taking Citi to suburbs, in his words. (Banerji was relocated to Brussels to oversee strategic and operational planning and corporate alliances for central and eastern Europe, West Asia and Africa in 2001.)

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First Published: Sun, May 09 2021. 22:16 IST
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