Citibank operations will be affected due to downtime on Monday, November 8. In an email communication to its customers in India, the bank informed that its services would undergo a 45-minute outage during scheduled system maintenance, Hindustan Times reported. Downtime is expected to be between 3 a.m. and 3:45 a.m. Monday. During this time, Citibank online and mobile banking as well as IVR service and self-service will be affected.
In the communication, the Bank emphasizes that Citibank Credit Card holders can now raise a dispute regarding any Citi Credit Card transaction through the 24×7 helpline. The bank has two million credit card customers in India and was one of the very few credit providers in the country.
Earlier in October this year, on October 16 and 17, bank services were affected for nine hours due to maintenance work.
Citibank is one of the first few private banking institutions in India and its existence in the Indian market dates back to the early 20th century when India was still under British occupation. Citibank’s website claims that it opened its first office in India in 1902.
However, its decision to exit India’s retail banking market came as a huge blow to many. Citibank launched its retail banking business in April this year in 13 international markets including India, Europe, the Middle East and the African region.
After exiting the Indian market, the bank is looking to sell to its customer markets in India. Citibank is eyeing a $2 billion bid and several banks are expected to submit their bids. The list of interested banks includes HDFC, Kotak Mahindra Bank, Insuind Bank, DBS India Bank and Axis Bank, India’s largest private sector lender.
However, HDFC and Kotak Mahindra are at the forefront of Citibank asset acquisition bids, which have a valuation of $1 billion in revenue.
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