Citi to sell India consumer biz to Axis Bank for $1.6bn

Citigroup has agreed to sell its consumer banking business in India to Axis Bank for $1.6 billion, the latest step in chief executive officer Jane Fraser's push to simplify the bank. The sale follows a months-long auction process and includes a credit-card business with around 2.6 million cardholders, the sixth-largest in the country. https://ift.tt/xrLb5Fq