CITIBANK

  • Cabinet likely to take up IOC disinvestment proposal at the CCEA on Thursday July 24, 2013

    New Delhi: The Cabinet, on Thursday, is likely to consider the proposal for sale of 10 per cent of government's stake in Indian Oil Corporation (IOC), which may fetch over Rs 4,300 crore to the exchequer at the current market price. "IOC disinvestment proposal is likely to come up for consideration...
  • Citibank India profit grows 41.4 pc to Rs 2,718 cr in 201213 July 3, 2013

    New Delhi: Buoyed by robust growth in its commercial banking and mortgage businesses, Citibank India on Monday reported a 41.4 per cent rise in profit after tax for 201213 at Rs 2,718 crore. Citi India, part of USbased global banking giant Citibank, also helped Indian clients raise $18 billion from...
  • HSBC may cut 14,000 more jobs as revenue faces pressure May 15, 2013

    London: HSBC will redouble costcutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue. Londonheadquartered HSBC is seeking up to $3 billion in additional annual savings by 2016, on top of $4 billion...
  • Delhi: Four arrested for using 57 fake credit cards May 3, 2013

    New Delhi: Four people were arrested for using 57 fake credit cards to dupe a major bank of over Rs 40 lakh to support their lavish lifestyles, police said on Thursday. Mayank Jain, 28, Roshan Dass, 27, Kuldeep Srivastava, 23 and Ashok Ganwani,35 got the cards issued from Citibank on...
  • Citigroup may exit consumer banking in more countries January 31, 2013

    New York: Citigroup Inc is looking to pull out of consumer banking in more countries in an effort to lower costs and boost profits, according to two people familiar with the matter. In December, Citigroup said it was withdrawing from consumer banking in five countries Pakistan, Paraguay, Romania, Turkey...
  • Citigroup to pay Pandit more than $ 15 million November 10, 2012

    New York: Citigroup said it will pay $15.5 million to Vikram Pandit, its former chief executive who resigned from company last month, as well as to his top deputy. The bank said on Friday the payments to Pandit and former Chief Operating Officer John Havens reflect the progress the bank...
  • Citibank planning Facebook banking? July 15, 2012

    New Delhi: Global banking giant Citi has turned to the social media to gauge the public mood on offering banking transactions through Facebook a service already being offered by Indian banking giant ICICI Bank. USbased Citigroup attracted the attention of hundreds of people within minutes of it posting messages...
  • Citigroup buys Mumbai property for Rs 985 crore April 26, 2012

    Mumbai: Global banking major Citigroup has struck the biggest property deal in recent years in the country by paying a hefty Rs 985 crore for six floors in the upcoming First International Financial Centre (FIFC) Tower at the coveted BandraKurla Complex to house its headquarters. Two Citigroup entities Citibank NA...
  • Citi, 3 other major US banks fail stress tests March 14, 2012

    Washington: All but four of 19 major US banks got a green light on Tuesday from the Federal Reserve to boost their dividends and take other steps that will make their stocks more attractive to investors. The Fed declared them strong enough to survive a downturn worse than the Great...
  • Citi CEO Vikram Pandit's pay soars to $14.9 mn March 9, 2012

    New York: Citigroup Chief Executive Vikram Pandit finally got his payday. The third biggest US bank company paid Pandit $14.86 million in 2011, compared with a salary of $1 and no bonus in 2010, according to a filing with the Securities and Exchange Committee. The 2011 payout included salary of $1.7...
  • NY judge rejects $ 285 mn SECCitigroup agreement November 29, 2011

    New York: A judge on Monday used unusually harsh language to strike down a $285 million settlement between Citigroup and the Securities and Exchange Commission over toxic mortgage securities, saying he couldn't tell whether the deal was fair and criticizing regulators for shielding the public from details of the firm's...
  • MNCs, IPL teams offer internships at IIMK November 8, 2011

    Kochi: Indian Institute of Management (IIM) Kozhikode on Tuesday said that over 100 firms, including Global Power house brands like Deutche bank, Citibank, softdrinks majors, MNCs and even a top tier IPL team, have made summer internship offers to 343 students of its flagship PGP programme. In the two year programme,...
  • Vikram Pandit's Citigroup reports $ 3.8 bn profit October 18, 2011

    Washington: As Citigroup announced a betterthanexpected thirdquarter profit of $ 3.8 billion, its IndianAmerican chief Executive Vikram Pandit emphasised the banking giant's position in emerging markets as a big growth driver. Though the gains largely came from credit value adjustment (CVA) that allows the bank to book gains from increases in...
  • S&P President Sharma stepping down: report August 23, 2011

    Sydney: The President of Standard & Poor's, Deven Sharma, is stepping down, just a few weeks after the ratings firm issued a controversial downgrade of US government debt, the Financial Times reported. Citing people familiar with the matter, the FT said Sharma would be replaced by Douglas Peterson, chief operating officer...
  • ED to interrogate Citibankfraud mastermind Puri August 2, 2011

    New Delhi: Enforcement Directorate will now interrogate Shivraj Puri, the mastermind of Rs 461 crorefraud case at the Citibank branch in Gurgaon under the provisions of antimoney laundering laws. The Directorate will question the Citibank's Global Wealth Manager Puri, who was working at the branch of the bank and is...
  • Citigroup gives $ 16 mn retention award to CEO May 19, 2011

    Boston: Citigroup on Thursday said it has rewarded CEO Vikram Pandit with an over 16 million dollar 'retention award' for his 'outstanding job' of steering the financial giant to profitability and executing a strategy for sustainable growth. Pandit has been taking home a token one dollar salary from Citigroup since 2009. The...
  • Citi fraud: services of 7 employees terminated March 8, 2011

    Gurgaon: Citibank has terminated services of 7 employees at its Gurgaon branch, where Rs 460 crore fraud was detected last year. "Following disciplinary procedures, services of a few employees of our Gurgaon branch have been terminated," a Citibank spokesperson said on Tuesday. ...
  • Citi CEO Pandit's salary soars to $ 1.75 mn January 22, 2011

    New York: Citigroup Inc Chief Executive Vikram Pandit got a $1,749,999 raise on Friday. Pandit pledged in 2009 to receive an annual salary of $1 until the struggling Citigroup returned to sustained profitability. On Friday afternoon, three days after the bank reported its first full yearprofit since 2007, the board raised...
  • Citi fraud: 14 days judicial custody for Puri January 14, 2011

    Gurgaon: Shivraj Puri, the main accused in the estimated Rs 400 crore fraud at Citibank's Gurgaon branch, was remanded in 14 days' judicial custody by a local court on Friday. Chief Judicial Magistrate D N Bhardwaj ordered Puri to be taken into judicial remand for 14...
  • Citibank fraud: Puri implicates his father January 12, 2011

    Gurgaon: Shivraj Puri, the mastermind of the Rs 300 crore Citibank fraud, has implicated his father Raghuraj Puri in the case. Puri reportedly told the court that Rs 50 crore of the scam money was invested in his father's company. Police also told the Gurgaon court of Chief Judicial Magistrate...
  • Citi fraud: Puri's remand extended till Jan 14 January 12, 2011

    Gurgaon: A local court on Wednesday extended police remand of Shivraj Puri, the main accused in the alleged Rs 400 crore Citibank fraud, by 2 more days till January 14 as police is yet to recover iPad considered to be vital evidence. The Chief Judicial Magistrate DN Bhardwaj remanded Puri...
  • Citi fraud: Hero official's custody extended January 8, 2011

    Gurgaon: A local court on Saturday extended police remand of Hero Group's senior official Sanjay Gupta by seven days to January 15 in connection with the Rs 300 crore Citibank fraud case. Gupta, an Assistant VicePresident with Hero Group, allegedly invested about Rs 250 crore belonging...
  • Citi fraud: Puri handed a sixday remand January 6, 2011

    Gurgaon: Citibank manager Shivraj Puri, accused of masterminding a Rs 300 crore fraud, was handed a sixday police remand on Thursday. "Puri was produced in court and he has been remanded to sixday police custody," Puri's lawyer Sartaj Baswana said. An official said police took Puri's custody to trace an...
  • Citibank petitioner speaks to CNNIBN January 5, 2011

    Sanjeev Aggarwal speaks to Rajdeep Sardesai about the multicrore Citibank fraud case. ...
  • Citi fraud: Victim says bank must compensate January 5, 2011

    New Delhi: The first complainant in the Rs 300 crore Citibank fraud, has described it as a systemic failure and has alleged the fraud is not just a bank issue, and multiple parties might be involved. Sanjeev aggarwal, MD, Helion Advisors says, "I came to know about this a month...
  • RBI starts investigating the Citibank scam January 5, 2011

    New Delhi: The Reserve Bank is investigating the Rs 300 crore fraud in Citibank's Gurgaon branch, which saw diversion of depositors funds in stock markets. "RBI is investing the matter (Citi Bank fraud)," a key Reserve Bank source said. The fraud at the Citibank's Gurgaon branch, involving diversion of depositors money into...
  • Citibank fraud not a oneman show: petitioner January 5, 2011

    New Delhi: The petitioner in Citibank fraud case Sanjeev Aggarwal on Wednesday slammed Citibank, saying the multinational bank should own up for whatever has gone wrong. He said that he had sent many queries regarding unauthorised inflows in his account, but none of them were answered. Aggarwal said, "I came to...
  • Senior officials not involved in fraud: Citibank January 5, 2011

    New Delhi: Citibank has dismissed allegations of involvement of its senior executives in the Rs 300 crore fraud at its Gurgaon branch as claimed by high networth individual Sanjeev Aggarwal who lost Rs 32.43 crore in the cheating case. "As this individual (Sanjeev Aggarwal, managing director of Helion Advisors) knows...
  • Citi fraud: 2 more Hero Group employees involved January 5, 2011

    Gurgaon: Two more Hero Group employees allegedly colluded with the company's former associate vicepresident, Sanjay Gupta, in the multicrore rupee Citibank scam. The Enforcement Directorate has asked Gurgaon police to give it documents related to the investigation. Hero Corporate Service on Wednesday released a statement saying the two employees Ganpat...
  • Fraud: FIR against Citi CEO Vikram Pandit January 4, 2011

    Gurgaon: The Gurgaon police on Tuesday registered an FIR Citibank CEO Vikram Pandit and 10 other top officials in the Rs 300crore Citibank fraud case. The fraud at the bank's Gurgaon branch, involving diversion of depositors money into the stock market, was uncovered last week. Besides Pandit, the FIR filed by a...