Solution:

• The Banks which started in foreign countries and given permission to start branches in India is called as the Foreign Banks. Examples: Citi Bank, Standard Chartered Bank, HSBC, American Express, etc..

• Citigroup Inc. or Citi is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002.