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Citi launches Priority in India

Citi India has launched a new product, Citi Priority, targeting people in the age group below 40 years, which the bank feels have very specific multiple banking needs and wants to address these needs – mostly in savings, wealth management, travel and lifestyle. The bank’s country business manager Kartik Kaushik said the bank had carried out an in-house study on this aspect, which brought out the fact that there is an emerging class of wealth builders globally and India, which is experiencing the fastest growth. And the new product is Citi’s answer, he said maintaining that this is for the first time a bank could be combining a credit and debit card as part of the offering. The service comes free for the consumers if they maintain a ‘relationship value’, which includes savings, credit cards, mortgages, travel bookings, etc of Rs 15 lakh per year. India is the fifth country in the world where Citi has launched ‘Priority’ has been launched, he said. Kaushik said he expects 10% of the individual account holders to sign up for the new offering.

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