Citi ordered to pay $770 million over credit card practices

Citigroup Inc`s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.

Citi cuts base rate to 9.35%
Citi cuts base rate to 9.35%

Citi on Tuesday became the first overseas bank in India to lower base rate, which it slashed by 15 basis points to 9.35 percent, citing falling interest rates.

Citi posts highest quarterly profit in 8 years as costs plunge

Citi has been slowly getting its house in order by cutting costs and shedding assets that are not critical to its main businesses. It has sold retail operations in many countries and shrunk its U.S. branch network.

Fiscal deficit target of 4.1% GDP likely to be met: Citi
Fiscal deficit target of 4.1% GDP likely to be met: Citi

The fiscal deficit target of 4.1 percent of GDP for 2014-15 is likely to be met though the fiscal trends are "weak", it said.

'EY tops in deal volume, Citi in value so far this year'

With closing 16 deals, EY has emerged as the busiest arranger in the merger and acquisitions space this year in the country, while Citi tops by value, according to data compiled by Mergermarket.

IRB Infrastructure falls after Citi downgrade

Shares of IRB Infrastructure Developers Ltd fall after Citigroup downgraded the stock to "sell" from "buy".

Citi, HSBC, UBS among 5 bankers to manage ONGC share sale

The government had last sold 5 percent stake in ONGC in 2012 for Rs 14,000 crore.

Citigroup to pay $7 bn to settle US mortgage suits

The bank will take a USD 3.8 billion pre-tax charge to cover the settlement.

Citi India Net up 6% at Rs 2,893 crore

The New York-headquartered Citi's domestic unit recorded a pre-tax profit growth of 11.4 percent to Rs 5,113 crore in FY14, it said in a statement.

Citi agrees to pay $1.1 bn in mortgage settlement

Citi said the agreement releases it from an obligation to repurchase mortgages sold into 68 mortgage trusts. The 68 trusts issued $59.4 billion in residential mortgage securities during 2005-2008.

5.6% growth likely next year, stable govt is vital: Citi

An occurrence of El Nino could lead to deficient rainfall in India and consequently pose a downward risk to agricultural output, the report said. El Nino is a series of climatic changes across Pacific Ocean due to warm ocean water temperatures.

TRAI warns seven banks for sending pesky communications

The errant banks which also include PNB, Citi, Axis and Kotak Mahindra are found to be marketing their products and services using unregistered telemarketers, Telecom Regulatory Authority of India (TRAI) said in a statement.

Rupee likely to be in 54-56 range vs dollar in FY'14: Citi

The battered rupee is likely to trade in the range of 54-56 against dollar in the current fiscal with a possibility of widening of this band depending on strengthening of the US unit, Citi Research said Wednesday.

Citi lowers Indian stocks rating to "underweight"

Foreign brokerage firm Citi Thursday lowered its rating on Indian stocks to "underweight" from "neutral" citing growth concerns and said the Indian markets could move up only by seven percent in 2013.

Textiles industry seeks cut in excise duty on man-made fibres

Apex industry chamber for textiles CITI on Tuesday demanded that the government reduce excise duty on man-made fibres to 8 percent in the forthcoming Budget to boost the sector's growth.

CITI launches high density planting system for cotton

Aiming to improve the cotton productivity, industry body Confederation of Cotton Textile Industry (CITI) Thursday launched a project in Rajasthan to encourage high density planting system for the natural fibre.

Citi planning Facebook banking?

US-based Citigroup attracted the attention of hundreds of people within minutes of it posting messages on social networking platforms Twitter and Facebook last night about banking services on Facebook.

Finally a silverlining: CAD to fall to 3.5% in FY13: Citi

The CAD is the difference between a country's exports and imports. Due to the high dependency on imported oil, the country has traditionally been facing trade deficit, where the import expenses have always been higher than export earnings.

Citi not to seek Fed approval to boost capital return in 2012

In the meantime, the bank will continue to build additional capital through earnings and the ongoing reduction of non-core assets, the statement said.

Citibank India launches 'PremierMiles Credit Card'

With this, Citibank has mutually agreed to exit its co-branded card partnership with Jet Airways, which was in existence from 1999, the foreign bank said.