Citi consumer business: Kotak Mahindra, Axis and IndusInd submit bids
Citi is expected to start bilateral negotiations and announce a formal winner in the next one-two months. None of the bidders have offered stocks, and have submitted all-cash bids. The first two are the most aggressive bidders and are the frontrunners.
Union Bank of India cuts home loan rates to 6.40 per centEarlier, as a part of festive offers, the Bank of India had announced a 35 basis point reduction in its home loan interest rates and a 50 basis points in vehicle loan interest rates.
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