Competition Commission clears Axis Bank-Citi deal

Under the deal worth Rs 12,325 crore, announced on March 30, Axis Bank would take over Citi's credit cards, personal loans and wealth management businesses that are focused on the affluent segment. In a tweet on Tuesday, the regulator said it has cleared the "acquisition of Citibank, N.A.'s and Citicorp Finance (India) Limited's undertakings comprising of their consumer banking activities by Axis Bank".

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