Citigroup India to sell its commercial vehicle finance unit
Banking giant Citigroup India has decided to put its commercial vehicle finance business unit on sale in line with its global asset sale strategy to raise capital by selling less-efficient divisions.As part of its cost cutting exercise, the sub-prime loss-hit Citigroup is going ahead to sell its truck and commercial vehicle financing business and though it is a low margin business, many players have lined up to buy it.
