Citigroup

Citigroup Inc. is today's pre-eminent financial services company, with some 200 million customer accounts in more than 100 countries. Our history dates back to the founding of Citibank in 1812, Bank Handlowy in 1870, Smith Barney in 1873, Banamex in 1884, and Salomon Brothers in 1910.

Other major brand names under Citigroup's trademark red umbrella include Citi Cards, CitiFinancial, CitiMortgage, CitiInsurance, Primerica, Diners Club, The Citigroup Private Bank, and CitiCapital

India

Citigroup in India Citigroup is the single largest foreign direct investor in the financial services industry in India. Committed to India for over 100 years, Citigroup considers itself a local bank with an international perspective backed by the largest global network. With a staff strength of over 15,000, Citigroup has consolidated its position as the most innovative and comprehensive financial products and services provider in the country, and today has a customer base of over 1,000 large corporates, over 22,000 small and medium enterprises and over 5.5 million retail customers.

Over the years, Citigroup has established a track record of outstanding business milestones such as Cash Management, pioneered by Citigroup in 1986 and utilized by over 900 corporates with through-puts totaling around $ 35 billion (8% of India's GDP). It is India's largest foreign bank in the FX (foreign exchange) market with a 14 per cent market share. As the leading custodian, Citibank has over $22 billion of custody assets under management.

Citibank, Citigroup's consumer banking brand, addresses the full spectrum of the customers' financial needs through credit cards and retail banking. A pioneer in consumer banking, Citibank was the first to introduce credit cards, focused consumer lending programs and electronic banking in India. Today, the Citibank network comprises of 39 bank branches across 27 cities and over 400 CitiCard Banking centers-which combine ATMs and self-service phone and Internet banking--offering CitiGold wealth management, credit cards, mortgage services, Auto Loans, Personal Loans, Suvidha and NRI Services. Through CitiFinancial, Citigroup offers consumer finance services in the country.

For well over 80 years, CitiFinancial® has been helping people realize their financial goals and dreams. CitiFinancial believes in "getting personal." That's why they work hard to understand customers' needs. With a variety of personal and home equity loan options, they're able to find a solution tailored to fit ones personal needs.

Products:

Personal Loans - Pay off your credit cards, take care of unexpected expenses, buy furniture or take a much needed vacation.

Consumer durable loan - thinking of buying T.V., fridge etc. then citifinancial is the right place to help you with the finances for the same.

Two-wheeler finance - helps you with the necessary financial requirement for any kind of two-wheelers.

Competitors :

Some of the other financial services who have come up with the similar product are :

HSBC

ICICI

GE MONEY

CENTURION BANK

INDIA BULLS

However citifinancial stands out with regards to its reach and the various schemes it offers to its clients.

The Process:

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Documents required :

The requirements for the personal loan differ for the existing customer is different from that of the new customer. The existing customer is the one who approaches the institute for a second loan in which case he only requires an identity proof , whereas the documents for the new customer includes identity proof, residential proof, bank statements, income proof, income tax return files.

Schemes offered:

Even the schemes offered to the new and the existing customers differ. Of the various schemes available with the PLO usually the existing customers are given the PL Loyality J to J ,and for the new customers PL Vanila scheme is offered. The various schemes vary with respect to ROI , AMOUNT, EMI etc.

Channels :

The various channels by means of which the leads / customers are forwarded to the branch are as follows:

1. NEW BORN

2. F.O.S

3. TELECALLERS

4. EXISTING CUSTOMERS

These channels work on a monthly targets.

Modus Operandi :

Citifinancial has its head office in New Delhi. All the decisions regarding approving new schemes check on pay rolls, major decision-making etc. are done at the H.O. in Delhi. The decisions are then passed on to the various divisions throughout India. These divisions are then sub-categorized into various branches from where the loans are disbursed.

The various divisions are handled be the District Managers who report to the Vice-President.