Services of Citibank will be affected from 9.00 pm, today, 16 October to 6.30 am on 17 October. According to a mail from Citibank, services of the bank will be down on the intervening night of Saturday and Sunday and will be impacted for nine hours. The bank has sent email to its customers to inform about the inactivity.
The services will be inactive from 9 pm 0n 16 October to 6:30 am on 17 October are as follows "
Function such as Samsung Pay wallet and Credit card will be inactive from 9:30 pm on 16 October to 1:30 am on 17 October.
Transactions of RTGS will also be affected from 2.30 am to 6.30 am on 17 October.
All services of Citibank that are online along with the mobile services of Citibank will be impacted from 1am to 2am on 17 October.
Another service that will be down is the IVR self-service. This function of the bank will be inactive from 9.00 am on 16 October to 1.30 am on 17 October.
However, the bank has provided its customers with a link where they can register a dispute related to credit card transactions. Disputes can be raised by accessing a link that will be sent as part of the system-generated transaction SMS during the downtime.
It was reported by Bloomberg in April this year that Citigroup Inc. will exit retail banking in the regions of Asia, Middle East, Europe and Africa, making a total exit in around 13 markets.
The bank now plans to function from the United Arab Emirates, London, Hong Kong and Singapore, where it will operate its consumer-banking franchise. Citigroup has made a significant change as it will exit its consumer franchise in the countries of China, Australia, Russia, India, Indonesia, the Philippines, Taiwan, Thailand, South Korea, Vietnam, Poland and Malaysia.
However, Citibank will offer private bank services, investment-banking, cash-management arm and trading businesses to its institutional clients.
In India, Citibank began functioning in around 1902, in Kolkata. The bank grew to become a crucial foreign investor in India's financial market. According to Livemint, the bank reported a Profit After Tax of Rs 4,918 crores for the fiscal year which ended on 31 March, 2020.