Indian banking franchise of Citi bank has taken a sense of relief, following bail out package announced by the US government. It would help the bank to come out of credit crisis and help to recover its strong market position. The bank’s local workforce is still living under threats of lay-offs but now it can expect some thing better in future.

It is worth noting that US administration has announced to inject $20 billion (Rs1 trillion) of capital in Citi bank as a financial aid. It would help the bank to deliver the best services to clients besides putting ban on false rumors regarding financial health of the bank.

Bank’s former chief, Sanjay Nayar, who recently joined the private equity firm Kohlberg Kravis Roberts and Co, said in a statement that Citi India has maintained strong and stable operating income having more than sufficient liquidity. Bank has the best talent and global franchise need not to worry about any thing.

Earlier, immediately after Nayar’s resignation as Citibank NA’s South Asia franchise, the bank started retrenchment drive by terminating services of 40 senior employees. It had caused a scene of insecurity among its staff. Citi had recently announced that it would cut at least 52,000 jobs in a line with its cost cutting measure.