Citibank operations will remain affected by downtime on Monday, November 8. In an email communication to its customers in India, the bank informed that its services will go through a 45 minute-outage during scheduled system maintenance, reported Hindustan Times. The downtime is expected to last between 3 am and3:45 am on Monday morning. During this period, Citibank online and mobile banking along with IVR service and Self Service will remain affected.
In the communication, the bank emphasises that Citibank credit card holders can now raise disputes about any Citi credit card transaction through the 24×7 helpline. The bank has 20 lakh credit card customers in India and was one of the very few credit providers in the country.
Earlier in October this year, the bank services remained affected for nine hours due to maintenance work on October 16 and 17.
Citibank is one of the first few private banking entities 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 the retail banking market of India came as a rude shock for many. Citibank winded its retail banking business across 13 international markets including India, Europe, Middle East and the African region in April this year.
After the exit from the Indian market, the bank has been looking to sell off its customer markets in India. Citibank has been eyeing a bid of $2 billion and many banks are expected to submit their bid for the same. The list of interested banks includes India’s largest private sector lender HDFC, Kotak Mahindra Bank, InsuInd Bank, DBS India bank and Axis Bank.
However, at the forefront of Citibank asset acquisition bids are HDFC and Kotak Mahindra who have a valuation of $1 billion in revenue.
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