Citibank operations will continue to be affected by downtime on Monday, November 8. In an email communication to its customers in India, the bank said its services would experience a 45-minute outage during scheduled system maintenance, the Hindustan Times reported. The downtime is expected to last between 3:00 a.m. and 3:45 a.m. on Monday morning. During this period, Citibank’s online and mobile banking services as well as IVR service and self-service will remain affected.
In the communication, the bank points out that Citibank credit card holders can now raise disputes regarding 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 of this year, banking was left affected for nine hours due to maintenance work on October 16 and 17.
Citibank is one of the first private banking entities in India and its existence in the Indian market dates back to the beginning of the 20th century, when India was still under British occupation. Citibank’s website claims to have opened its first office in India in 1902.
However, his decision to leave the retail banking market in India came as a stark shock to many. Citibank ended its retail banking operations in 13 international markets, including India, Europe, the Middle East and the African region in April of this year.
After exiting the Indian market, the bank sought to divest its customer markets in India. Citibank is considering an offer of $ 2 billion and many banks are expected to submit their offers 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’s asset acquisition deals are HDFC and Kotak Mahindra, which have a valuation of $ 1 billion in revenue.