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    Question

    Axis Bank has acquired the Indian Consumer Business of

    which Bank?
    A Citi Bank Correct Answer Incorrect Answer
    B Federal Bank Correct Answer Incorrect Answer
    C Union Bank of India Correct Answer Incorrect Answer
    D Bandhan Bank Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Axis Bank has completed the acquisition of the consumer business of Citibank. India's third 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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