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Citibank customers to access accounts in India from other countries

In a pioneering initiative, Citibank today announced its foray into global banking.

Now Citibank India's account-holders, including suvidha (convenience account) customers in Bangalore, can access their Indian bank accounts to withdraw upto $ 3,000 per annum from over 100 countries.

Nanoo Pamnani, global consumer bank head and CEO Citibank, India, told newsmen here that the bank had set up two sites in Bangalore and Philadelphia for the purpose. He hoped that the facility would be extended to other centres by the middle of next year.

The innovation followed the Reserve Bank of India's deregulation on the use of foreign exchange on credit card usage. The ATM card holder could access at over 4,63,000 ATMs in over 100 countries, including one in Antartica in local currency of the country.

The RBI's regional director in Karnataka, N Biswas, said reduction of currency handling through plastic money was welcome. However, the RBI would withdraw the facility if it is used for money laundering.

J Sannon, senior vice president and general manager, south east and south Asia, Mastercard International, said his organisation would once again break new ground in providing Indian customers safe and secure access to their own money.

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