Japanese lender MUFG Bank commences operation in GIFT City

Gandhinagar: A Japanese lender, MUFG Bank, announced on Wednesday that it has started operation in Gujarat International Finance Tec-City (GIFT City) in Gandhinagar.

MUFG received the final approval from the International Financial Services Centres Authority in India (IFCAI) and the Financial Services Agency of Japan for the opening of this branch office in Gujarat in May.

Going forward, the bank will strive to further leverage its enhanced office footprint to provide an even more extensive and enriched suite of financial services to meet the diverse needs of its customers, MUFG said in a press statement.

Shashank Joshi, Deputy CEO of India of MUFG Bank also expressed his gratitude for being recognized as the first Japanese bank to open a branch in GIFT City.

“We are fully committed to leveraging our presence in GIFT City to contribute to India’s vision of being a gateway to the world,” Joshi said.

The bank will harness its capabilities and relationships to facilitate greater business collaboration and synergies between India and Japan, he added.

With the opening of this new branch, MUFG bank has a total of six branches in India. The first branch was opened in Mumbai in 1953. the other branches are in New Delhi, Chennai, Bengaluru, and Neemrana.

DeshGujarat