Business Daily from THE HINDU group of publications
Thursday, Apr 03, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Apr 03, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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Foreign Banks Marketing - New Products & Services Citibank package for expats 
For expats: Mr P.S. Jayakumar (left), Country Business Manager, Global Consumer Group, Citibank, and Mr T.R. Ramachandran, Retail Banking Head, at a press conference in Mumbai on Wednesday. Our Bureau Mumbai, April 2 Citibank has launched a package of financial solutions and other services for the expatriate community in India. Apart from offering expatriates an orientation on living in India, the bank will also offer them investment options globally in familiar international currencies. The expats will be assigned relationship managers and will also be offered an international debit and credit card, advice on forex hedging and globe deposits in eight currencies. They can also avail of personal and home loans and remittance facilities Mr P.S. Jayakumar, Country Business Manger, Global Consumer Group, Citi India, said that there were estimated to be around 1 lakh expats in the country and around 25,000 were coming to India every year. “We hope to have around 25-40 per cent of this community as our clients. Since, we are a global bank, we can also serve them in their home country.” he said. According to a survey conducted by Citibank, the expatriate community was being offered routine banking products and services, which were more suitable for Indian citizens. Mr T.R. Ramachandran, Head, Retail Banking, Citibank, India said that most expats were salaried individuals who would be interested in such a package of solutions. Meanwhile, Citibank has received three branch licences, which would take its total branch network to 42. More Stories on : Foreign Banks | New Products & Services | Financial Services | NRIs
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