Banks / Citibank India
Banks / Citibank India
⚠️ Important — this is not a retail bank page. In 2023, Citi transferred its entire India consumer/retail banking business — credit cards, retail banking loans and wealth management for individuals — to Axis Bank. Citi no longer has retail branches, savings/current accounts, credit cards, personal loans or individual customers in India. It continues to operate in India only as a wholesale/institutional bank serving large corporates, financial institutions and governments. If you are looking for your erstwhile Citi savings account, credit card or wealth-management relationship, see the Axis Bank profile → — those accounts and products now live there.
In April 2021, Citigroup announced a global strategic pivot away from consumer banking in 13 markets, including India, to focus on institutional/wealth clients globally. On 30 March 2022, Citi announced a definitive agreement to sell its India consumer businesses to Axis Bank for an estimated ₹12,325 crore. The transaction completed on 1 March 2023 (final consideration ≈ ₹11,603 crore after adjustments), with roughly 3,200 Citi consumer-banking employees moving to Axis Bank. Customer accounts, cards and portfolios migrated onto Axis Bank's systems over a transition period through 2023–24.
Citi's institutional client business — corporate banking, treasury & trade solutions, markets & securities services, and investment banking for large Indian and multinational corporates, financial institutions, and government entities — was not part of the sale and continues to operate under Citibank N.A.'s existing India branch licence, regulated by the RBI. This is the business this page describes below. If you held a Citi savings/current account, credit card, personal loan or Citigold/wealth relationship before March 2023, that relationship is now with Axis Bank, not Citi.
India Subcontinent Sub-Cluster & Banking Head and Citi India Country Officer (CCO) & Banking Head. Joined Citi in 1996 and has held roles across finance, transaction banking and corporate banking; most recently served as Asia South Head of Corporate Banking (Singapore) before taking on the India role, succeeding Ashu Khullar.
Citi India operates as a branch of Citibank, N.A. (incorporated in the USA), not a locally incorporated subsidiary — so its top executive holds the title India Country Officer & Banking Head rather than "MD & CEO" or "Chairman." Since the March 2023 exit from consumer banking, this leadership role oversees only the institutional/wholesale banking franchise in India.
| Name | Tenure (approx.) | Notable Period |
|---|---|---|
| K. Balasubramanian | 2025 – present | Leads Citi India post-consumer-exit, focused solely on institutional/wholesale banking |
| Ashu Khullar | 2019 – 2025 | Oversaw the announcement (2022) and completion (March 2023) of the sale of Citi's India consumer business to Axis Bank |
| Pramit Jhaveri | ~2011 – 2019 | CEO, Citi India, during the consumer-banking era prior to the global 2021 exit announcement |
Tenure years marked ~ are approximate based on available public reporting; K. Balasubramanian's appointment was reported as subject to regulatory approval. See Citi's official India page for current details.
Citi India does not operate a retail customer-care helpline, branch network or branch/ATM locator, because it has no individual/retail customers in India. Existing institutional and corporate clients are served through their dedicated relationship management and Treasury & Trade Solutions/Markets sales teams. If you are a former Citi retail, credit-card or wealth customer, please contact Axis Bank — see its customer care details here →.
Corporate, financial-institution and government clients are onboarded via existing Citi relationship teams — there is no public retail enquiry line.
All ex-Citi retail accounts, cards and wealth relationships transitioned to Axis Bank in 2023.
Citi India serves corporates, financial institutions and governments only. There are no savings accounts, current accounts for individuals, retail fixed deposits, personal loans, home loans or credit cards offered by Citi in India — those product lines, and the customers who held them, moved to Axis Bank in 2023.
Citi does not publish retail deposit interest rates in India, because it no longer accepts retail deposits here — that business transferred to Axis Bank in March 2023. The box below reflects this directly rather than showing an empty or broken-looking rate table.
Citibank's India operations are booked as part of Citibank, N.A.'s India branch accounts and are not published as a standalone, retail-investor-style quarterly result the way Indian-listed banks' results are. Because the consumer business (which drove most of the retail-facing revenue and branch-level P&L) was sold to Axis Bank effective 1 March 2023, Citi India's FY2022-23 branch financials reflect a part-year consumer business plus the institutional business, and FY2023-24 onward reflect the institutional business alone — making year-on-year retail-style comparisons misleading if not read carefully.
Rather than reproduce a re-typed figure here that could be stale or misread out of context, readers wanting exact numbers should consult Citibank N.A.'s India branch audited annual accounts and RBI's published Statistical Tables Relating to Banks of India, or Axis Bank's investor disclosures (which detail the acquired consumer business's balance sheet) on the Axis Bank page.