SoftBank Vision Fund invest at least $2.5 billion in Flipkart, becomes largest shareholder in the firm ​

SoftBank Vision Fund invest at least $2.5 billion in Flipkart, becomes largest shareholder in the firm ​

The investment is part of the previously announced financing round, where Flipkart had raised capital from China`s internet company Tencent, eBay and global technology giant Microsoft. 

Aug 10, 2017, 15:36 PM IST
Paris fast replacing Mauritius as tax haven: Report

Paris fast replacing Mauritius as tax haven: Report

Till March 31, Mauritius was the preferred location to carry out such business.

Apr 18, 2017, 10:28 AM IST
Citi and JPMorgan top list of globally systemic banks, replaces HSBC

Citi and JPMorgan top list of globally systemic banks, replaces HSBC

Citi has joined JPMorgan at the top of global regulators` list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability.

Nov 21, 2016, 20:36 PM IST

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.

Jul 22, 2015, 06:35 AM IST
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.

Jun 30, 2015, 20:44 PM IST

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.

Apr 17, 2015, 08:39 AM IST
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.

Feb 01, 2015, 11:20 AM IST

'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.

Oct 06, 2014, 20:03 PM IST

IRB Infrastructure falls after Citi downgrade

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

Sep 01, 2014, 10:27 AM IST

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.

Aug 26, 2014, 15:53 PM IST

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.

Jul 14, 2014, 17:11 PM IST

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.

Jul 07, 2014, 18:06 PM IST

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.

Apr 08, 2014, 09:17 AM IST

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.

Feb 09, 2014, 12:39 PM IST

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.

Sep 23, 2013, 20:24 PM IST

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.

Jun 12, 2013, 23:19 PM IST

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.

Jan 10, 2013, 22:23 PM IST

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.

Jan 08, 2013, 14:15 PM IST

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.

Aug 09, 2012, 21:45 PM IST

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.

Jul 15, 2012, 13:03 PM IST

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