Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › World News › Citi, Axis Bank Team Up on Leveraged India Dollar Deposit Boom
World News

Citi, Axis Bank Team Up on Leveraged India Dollar Deposit Boom

Bloomberg Markets Monday 24 August 2026, 02:00 UTC By Saikat Das and Bhaskar Dutta 1 min read
Key Points

Citi, Axis Bank Team Up on Leveraged India Dollar Deposit Boom Citigroup Inc. has tied up with Axis Bank Ltd. to finance non-resident Indians investing in foreign-currency deposits with the local lender, according to people familiar with the matter. Axis Bank will provide standby letters of credit to support financing extended by Citigroup through its offshore operations, said the people, who asked not to be identified because the information is private. The arrangement allows leverage on...

Citi, Axis Bank Team Up on Leveraged India Dollar Deposit Boom Citigroup Inc. has tied up with Axis Bank Ltd. to finance non-resident Indians investing in foreign-currency deposits with the local lender, according to people familiar with the matter. Axis Bank will provide standby letters of credit to support financing extended by Citigroup through its offshore operations, said the people, who asked not to be identified because the information is private. The arrangement allows leverage on the amount invested by an NRI, they said.
Citi (ORG) Axis Bank Team (ORG) Axis Bank Team Up on Leveraged India Dollar (ORG) Axis Bank Ltd. (ORG) Indians (ORG) Axis Bank (ORG) Citigroup (ORG) NRI (ORG)
Originally published by Bloomberg Markets Read original →

Related Stories

Investment market volatility is ‘here to stay’ unless global recession strikes: analyst

Advertisement Investment market volatility is ‘here to stay’ unless global recession strikes: analyst Rich investors put on notice as AI advancement and geopolitical risks continue to change market structure, causing instability, says Nomura 2-MIN READ2-MIN Wealthy investors should be ready for higher volatility “for years” as uncertainties around artificial intelligence (AI) development and geopolitical risks are set to persist, according to a major private bank. In the past few years,...

South China Morning Post 9m ago

Breaking: Five arrested as police raid CFMEU headquarters in Melbourne

CFMEU headquarters in Melbourne raided by police investigating alleged corruption Five people have been arrested after detectives investigating allegations of corruption in the construction industry raided the CFMEU headquarters in Melbourne this morning. Victoria Police said detectives from Taskforce Hawk executed warrants at six addresses as part of an investigation into alleged secret commissions. One of the premises was the Elizabeth Street office of the construction union.

ABC Australia 14m ago

Former NBA player who says he identifies as woman ejected from WNBA game

Former NBA centre Enes Kanter Freedom has been ejected from an Indiana-Chicago WNBA game after Sky guard Natasha Cloud yelled and pointed in his direction late in the third quarter. Freedom was sitting along the baseline on Sunday night (Monday AEST). He had on a black shirt that read "WOMAN noun.

ABC Australia 31m ago

‘Hang in there’: Chinese boys offer US$1.5 to struggling store owner, sparking wave of support

‘Hang in there’: Chinese boys offer US$1.5 to struggling store owner, sparking wave of support To express his gratitude, Chen treats the three ‘angel investors’ to a meal, a fishing trip, offering each a red envelope Three boys from southeastern China offered 10.5 yuan (US$1.5) to a convenience store owner on the brink of closing, igniting a wave of public support. Five years after borrowing money to establish his convenience store in Guangzhou, Chen decided to shut down the shop as business...

South China Morning Post 41m ago