Question
Axis Bank has acquired the Indian Consumer Business of
which Bank?Solution
Axis Bank has completed the acquisition of the consumer business of Citibank. India's thirdĀ largest private sector bank has acquired the consumer businesses of Citibank in India. The deal is part of a global business strategy by Citigroup to expand its operations in 13 countries, including India by the year 2021. This was followed by the announcement of the decision to wind up retail banking operations. For this Axis Bank will pay up to Rs 12,325 crores to Citibank.
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