| Speaking on the sidelines of a management development programme for microfinance institutes in Ahmedabad, Sarvesh Sarup, country business manager, Global Consumer Group, Citibank, explained that the bank has started a Global Microfinance Unit, which specialises in the field of microfinance. |
| "We began with a focus on Mexico, India and the Philippines and will gradually extend this programme to other countries as well," Sarup said. |
| He added that Citibank has been using its expertise in retail banking, risk management systems, new technology and products to work closely with non-governmental organisations and MFIs. |
| Citigroup also partners Women's World Banking (WWB) in holding management development programmes for training staff of various MFIs and assisting them in scaling their operations. |
| Since 1997, the bank has provided grants worth $7.50 million to various NGOs and MFIs and is working. As many as 10 lakh women in the country have so far availed of microfinance from Citibank. |
| "We have also initiated the Indian Microentrepreneur Award, and the first award ceremony was held in February. Citibank will now make this an annual feature," Sarup said. |
| Citigroup is a global financial services company with about 200 million customer accounts in more than 100 countries. Major brands under the Citigroup include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex and Travelers Life and Annuity. |
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