Update: Market Chatter: Citigroup Working With Axis Bank to Finance NRI Foreign-Currency Deposits

MT newswire2026/08/24 14:45

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

10:45 AM EDT, 08/24/2026 (MT Newswires) -- (Updates with Citigroup's response in the fourth paragraph.) Citigroup (C) has partnered with Axis Bank to finance non-resident Indians investing in foreign-currency deposits with the Indian lender, Bloomberg News reported Monday, citing unnamed people familiar with the matter. Axis Bank is providing standby letters of credit to support financing that Citigroup extends through its offshore operations, allowing investors to leverage their deposited funds, according to the report. The arrangement gives foreign banks a way to participate in the growing deposit market without having an Indian retail-banking presence. Citigroup said it was unable to comment, while Axis Bank did not respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price: 131.83, Change: +0.17, Percent Change: +0.13

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

According to reports, the trading firm JonesTrading is marketing up to $500 million worth of stock shares on behalf of some investors, at a 3% to 5% premium over the IPO issue price. This indicates that investors are already transferring their anticipated IPO allotted shares before the IPO is officially issued.

华尔街见闻•2026/11/10 23:03

Nvidia continues to plummet, losing $430 billion in market value over two days, with Microsoft temporarily reclaiming the world's second place.

On Tuesday, Nvidia closed down 5.5%, a decline significantly greater than other major tech stocks, making it a key factor dragging down the tech sector's performance. During intraday trading on Tuesday, Microsoft's market capitalization briefly surpassed Nvidia, making it the world's second largest publicly traded company by market value. However, after Anthropic released its office suite, Microsoft's losses widened, causing it to fall behind Nvidia once again.

华尔街见闻•2026/11/10 23:01