Products and Offerings
The Citibank India offers a varied range of financial assistance to its customers like:Deposit Accounts – Savings Accounts, Current Accounts, and Term deposits.
Loans – Personal Loans, Home Loans, Loan against property, Auto Loan, Ready Credit
Credit Cards – Citibank Gold Card, Jet Airways Citibank Gold Card, Hutch Citibank Card, IndianOil Citibank Card, Shoppers’ Stop Citibank Card, MTV Citibank Card,Citibank Silver International Card, CRY Card, WWF Card, Times Card, Citibank Cricket Visa Card
Investments – Mutual Funds, Demat
Insurance – Life Insurance Solutions, Credit Insurance, Health Insurance, Travel Insurance
Banking – Suvidha Account, Debit Cards, Citibanking, CitiGold Wealth Management
CitiBusiness – Current Account, Loans, CitiBusiness Card
NRI Services – Rupee Checking Account, India Deposits
Online Services – Internet Banking, Bill Payment, Statement on E-mail, E-Commerce, CitiAlert
Cash Management services
Citi integrated receivables and payables solutions with diverse ERP systems in India, and implemented host-to-host mode of data processing with our customer back-office systems. Citibank, India has implemented payment gateway solutions (CitiConnect) which fulfil the financial settlement and e-credit needs of customers. Worldlink and CitiDirect @Online Banking ensure the completeness of solution by incorporating cross-border CM needs. In India, Citibank has pioneered the development of automated self-service kiosks (Citibank Easy Payment Centers) which facilitates bill collections on a “24/7/365” basis. It is an unique solution that offers consumers the flexibility of multiple payment options including cash and cheque and more importantly provides a “receipt” as proof of payment.
Credit Risk Management Practices
Like most of the banking industry during the late 1980s and the early 1990s, the high concentration of leveraged buyout and commercial real estate loan defaults that besieged Citibank provoked former CEO and Chairman John Reed to take an active role in reassessing the bank’s credit risk management practices. Citibank began to restructure the corporate lending and credit functions to incorporate a credit portfolio management strategy. Citibank began to emphasize the development of credit risk measurement techniques for loans similar to an options valuation model that would support the mark-to-market analysis and portfolio credit risk for the entire bank’s portfolio. Although the focus was mainly on large corporate and middle market facilities, it eventually led to the development of Citibank Loan Index (CLI). The index was designed to function like a equity or bond portfolio through which loans are bought and sold based on performance objectives. Loans that did not meet the performance objectives were sold off or transferred according to the index objectives.
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