Citigroup to sell Indian BPO unit

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Citigroup to sell Indian BPO unit

Citigroup is planning to sell its captive business process outsourcing (BPO) unit in India. The captive arm, which was last year renamed Citigroup Global Services (CGS), was one of the earliest outsourcing centers to be set up in India. According to insiders, inability to keep down running costs is causing this development. If sold, CGS will be the second largest BPO unit, after Genpact, to be on sale from India in recent times. Citigroup has declined to comment on what it dismissed as - market rumors'.

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