Wipro employees had a role in Citi's big blunder
(File photo) BENGALURU: Two Wipro employees had a role to play in what has been described as one of Citibank's biggest blunders. The case involves one where Citibank acted as an administrative agent for a term loan taken by Revlon, and where it was to wire approximately $7.8 million in interest payments to Revlon’s lenders. Instead, Citibank wired almost $900 million. It mistakenly sent the principal amount too. "The resulting payments equaled — to the penny — the amounts of principal and interest that Revlon owed on the loan to its lenders. The question in this case is whether Citiba...
Source: indiatimes.com