Citi Citi Bank Bank: Quiz on Citibank

24 11 2008

Q1. Citibank had one of its earliest International branches in an Indian city. It has been operating in India since 1902. Name the city and by what name was it known earlier..


Ans: Kolkata. Citibank started as City Bank of New York. From 1962, itt was known as First National City Bank.


Q 2. The full name of Citibank in India is Citibank. N.A. What does N.A stand for?


Ans : National Association


Q 3. Started by Frank McNamara, Ralph Schneider and Casey Tailor , it was the first independent credit card company in the world. In 1950, the first of these cards were given out to 200 associates of McNamara, mostly salespeople who often needed to dine with clients.Citibank was the exclusive franchisee of this well-known brand from 1981 to April 2008. In April 2008, Citibank sold this business to Discover.Name the brand.


Ans : Diners Club


Q 4. Citibank was found guilty by the Joint Parliamentary Committee for being one of the perpetrators in the 1991-92 stockmarket scam in India, popularly known as the Harshad Mehta scandal. Approximately, how much fine was Citibank asked to pay for this offence?


Ans : Rs 5.05 billion


Q 5. In 1998, Citibank merged with Travellers’ Group to form CitiGroup. From Travellers’ group, Citibank got its CEO, who remained the top boss of Citi from 2003 to 2006. He has been called  “King of Capital”, by his biographer. Name this Citibank CEO.


Ans : Sanford I.Weill or Sandy Weill


Q 6. Connect Citibank India to HP  .


Ans : Jaitirth Rao, alias Jerry Rao. Mr. Rao is credited with building the Citibank’s retail business in India. After leaving Citi he started Mphasis, an IT Services company. Mphasis merged with BFL to form Mphasis BFL. Mphasis BFL got acquired by EDS. EDS in turn has now been acquired by HP.


Q7. Connect Citibank to Oracle in India


Ans: CITIL. Citibank set-up an IT company called Citibank Information Technology India Ltd (CITIL). CITIL was renamed as I-Flex and it went public. I-Flex was acquired by Oracle and recently renamed as Oracle Financial Software Ltd.


Q 8. Citibank in India was always seen as the banker of the elite. In 1997-98 , it launched a new service targeted at the middle class with a low mimimum balance of Rs 1000 in Bangalore. This had other add-on services like utility bill payments, automatic creation of fixed deposits etc. This was considered a major innovation and Citibank took this product to many other countries. Name this service.


Ans: Suvidha.


Q 9. Name an Indian private sector bank which has a strong Citibank connection. Media has often speculated that should the RBI regulations slacken this bank would be taken over by Citibank.


Ans : HDFC Bank. Citibank has about 11 % stake in HDFC Ltd. HDFC in turn is the promoter of HDFC Bank and has 26% stake in HDFC Bank Ltd. Aditya Puri, the CEO of HDFC Bank is an Ex-Citibanker.


Q 10.  In the 1950’s and 60’s, Citibank had a member of the Rockefeller family at the top. But now the ownership of Citi is highly fragmented. Who is the largest individual shareholder of Citigroup ?


Ans: Prince Al-waleed bin Talal, belonging to the Royal family of Saudi Arabia. He owns less than 5 % in Citi and has promised to increase his stake.


– G. Mohan




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