Axis Bank set to take over Citi's credit cards, loans & wealth management businesses; deal clears Competition Commission hurdle
Deals beyond a certain threshold require approval of the Competition Commission of India (CCI), which keeps a tab on unfair business practices across sectors.
The parties involved in the deal are Axis Bank Ltd, Citibank, N.A. (acting through its India branch) and Citicorp Finance (India) Ltd. Pic: Reuters