Axis Bank to buy Citi's India consumer banking business for $1.6b

Axis Bank to buy Citi's India consumer banking business for $1.6b

FILE PHOTO: A man walks in front of a Citibank branch in Mumbai November 20, 2008. REUTERS/Arko Datta (INDIA)

Indian private lender Axis Bank is buying Citigroup Inc’s local consumer banking arm for $1.6 billion in its biggest deal to beef its credit card business.

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