Citibank

  • Cabinet likely to take up IOC disinvestment proposal at the CCEA on Thursday 24-07-2013 02:55 PM

    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...
  • Citibank India profit grows 41.4 pc to Rs 2,718 cr in 2012-13 03-07-2013 01:55 PM

    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 2012-13 at Rs 2,718 crore. Citi India, part of US-based global banking giant Citibank, also helped Indian clients raise $18 billion from...
  • HSBC may cut 14,000 more jobs as revenue faces pressure 15-05-2013 08:10 PM

    London: HSBC will redouble cost-cutting 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. London-headquartered 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 03-05-2013 05:57 AM

    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 to pay Pandit more than $ 15 million 10-11-2012 08:27 AM

    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...
  • NY judge rejects $ 285 mn SEC-Citigroup agreement 29-11-2011 08:16 AM

    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 IIM-K 08-11-2011 08:53 PM

    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...
  • Vikram Pandit's Citigroup reports $ 3.8 bn profit 18-10-2011 10:38 AM

    Washington: As Citigroup announced a better-than-expected third-quarter profit of $ 3.8 billion, its Indian-American 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...
  • S&P President Sharma stepping down: report 23-08-2011 08:28 AM

    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...
  • ED to interrogate Citibank-fraud mastermind Puri 02-08-2011 06:42 PM

    New Delhi: Enforcement Directorate will now interrogate Shivraj Puri, the mastermind of Rs 461 crore-fraud case at the Citibank branch in Gurgaon under the provisions of anti-money 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 19-05-2011 09:49 AM

    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...
  • Citi fraud: services of 7 employees terminated 08-03-2011 10:53 PM

    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. These employees were reportedly under suspension ever since...
  • Citi CEO Pandit's salary soars to $ 1.75 mn 22-01-2011 08:48 AM

    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 year-profit since 2007, the board...
  • Citi fraud: 14 days judicial custody for Puri 14-01-2011 07:21 PM

    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 days till January 28...
  • Citibank fraud: Puri implicates his father 12-01-2011 05:07 PM

    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 12-01-2011 03:07 PM

    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 08-01-2011 03:49 PM

    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 Vice-President with Hero Group, allegedly invested about Rs 250 crore belonging to promoters of the...
  • Citi fraud: Puri handed a six-day remand 06-01-2011 04:59 PM

    Gurgaon: Citibank manager Shivraj Puri, accused of masterminding a Rs 300 crore fraud, was handed a six-day police remand on Thursday. "Puri was produced in court and he has been remanded to six-day police custody," Puri's lawyer Sartaj Baswana said. An official said police took Puri's custody to trace an...
  • Citi fraud: Victim says bank must compensate 05-01-2011 06:00 PM

    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 05-01-2011 04:11 PM

    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...
  • Citibank fraud not a one-man show: petitioner 05-01-2011 03:33 PM

    New Delhi: The petitioner in Citibank fraud case Sanjeev Aggarwal on Wednesday slammed Citibank, saying the multi-national 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...
  • Senior officials not involved in fraud: Citibank 05-01-2011 02:07 PM

    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 05-01-2011 11:25 AM

    Gurgaon: Two more Hero Group employees allegedly colluded with the company's former associate vice-president, Sanjay Gupta, in the multi-crore 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 -...
  • Fraud: FIR against Citi CEO Vikram Pandit 04-01-2011 06:58 PM

    Gurgaon: The Gurgaon police on Tuesday registered an FIR Citibank CEO Vikram Pandit and 10 other top officials in the Rs 300-crore 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...
  • Citibank manager's parents summoned by police 04-01-2011 03:42 PM

    Gurgaon: Raghuraj and Deeksha Puri, parents of Citibank manager Shivraj Puri who is accused of masterminding a Rs 300 crore fraud, were summoned by the police on Tuesday to help in the investigations, police said. Gurgaon Police Commissioner SS Deswal on Tuesday sent a letter to Raghuraj's Mumbai-based company Normans...
  • Hero CFO arrested in the Citibank fraud case 03-01-2011 10:01 PM

    Gurgaon: Another arrest in the sensational Citibank fraud case. Sanjay Gupta, associate vice president of Hero Corporate Services has been arrested for helping the main suspect Shivraj Puri. Puri who is in the police custody has confessed that it was Sanjay Gupta who helped him. Sanjay Gupta's arrest came less...
  • Hero Group CFO arrested in Citibank fraud case 03-01-2011 01:20 PM

    Gurgaon: Hero Group CFO Sanjay Gupta has been arrested by Gurgaon police in the multi-crore Citibank fraud case. Sources told CNN-IBN that Gupta recommended Citibak employee Shivraj Puri to other people in the Hero Group in return for a commission of about Rs 20 crore from him. He has been...
  • Avoid being duped, guidelines for customers 01-01-2011 09:24 AM

    New Delhi: From fake certificates to the Rs 400 crore Citibank fraud: The RBI has initiated a probe, the governor is expected to make a statement on Saturday. The case has shaken the trust of consumers in their bankers. CNN-IBN tells you a few simple tips that you should take...
  • Citibank fraud investigations gain momentum 31-12-2010 09:13 PM

    New Delhi: The probe into the Rs 300 crore Citibank fraud has gained momentum. The Gurgaon Police have questioned executives from brokerage firms Religare and Bonanza and the CFO of the Hero Group, Sanjay Gupta. Sources say Citibank's Shivraj Puri channeled funds from his clients to his own account and...