Axis buys Citibank’s retail business, these rules will change for customers

Citi Bank Retail Banking Business: An old bank of the country has sold its retail banking business to India. Today i.e. from March 1, 2023, changes will be seen for the customers of this bank. This bank was doing business since 1902. The Kolkata-based bank has sold its retail banking business to Axis Bank.

Axis Bank of the private sector announced on Wednesday that Axis Bank has completely bought the Indian users business of Citigroup for Rs 11,603 crore. In such a situation, if you also have an account with this bank, then now you will have to face some changes.

What will be the changes if you have an account with Citibank?

If you have an account with Citibank, now you will have to do all transactions with Axis Bank. Along with this, the facilities of Axis Bank will have to be taken. Citibank in India will soon transfer all users business to Axis Bank.

These changes will happen for customers

• Your bank account number, credit and debit card numbers, check book and IFSC will remain the same.
• The Citi Mobile App or Citibank Online will continue.
• Similar facilities will be given to people taking insurance policies through Citi India, but Axis Bank will provide these facilities.
• Apart from Citibank, you will be able to withdraw money from Axis Bank or ATM. ATM withdrawal limit will be increased.
• The interest rate will remain the same, which was given in Citibank.
• Your investments in Mutual Funds, PMS or AIFs will be transferred to Axis Bank.
• There will be no change in home loan or other loan.
• Getting a settlement with a credit card can be difficult.

Axis Bank will get these things in the deal

Last year itself, Citigroup had announced the sale of its retail banking business from India. This bank had taken loan from Axis Bank. In such a situation, Citibank completed the deal with Axis Bank. In this deal, Axis Bank has been told to give 30 lakh customers, seven offices, 21 branches and 499 ATMs to Citibank.

Bank gave information to customers

Citibank India has informed on its website that Citibank India has transferred its retail business from 1st March 2023 to Axis Bank from 1st March 2023. However, all existing Citi products and services, branches, ATMs, internet banking and the Citi mobile app can continue to be used as usual.

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