If you're a Citi bank account holder, it should not be a news for you that Citi is selling their retail business in India. This is likely to be Axis, being the highest bidder, or Kotak with the second highest bid. See news article below.
‘Axis closing in on Citi India’s consumer unit’ - The Hindu
Just wanted to check what are you guys doing with your account? Are planning to keep it? or are getting it closed? I just got mine closed because I have had really bad experience with Axis (see below). I loved Citi for its excellent customer support & chat feature. Infact, I closed my account within 5 minutes using their chat!
Coming onto my experience with Axis, they deducted Rs. 5000 from my priority account (with 2L balance) for non-maintenance of balance in my other axis account which I did not use and was infact opened to help one of the sales guy meet his targets. I met with Ops head, said they can only refund 1k. I transferred all my money out, and will not even bother getting the accounts closed now, because screw them! So when I heard Axis is the likely purchaser of Citi's assets, it was a no brainer for me to close it.