MUFG Bank (MUFG), Japan, has announced the opening and start of operations at its branch in GIFT City, Gujarat. MUFG has obtained approval from the International Financial Services Centres Authority in India and the Financial Services Agency of Japan for the opening of this branch office.
Since establishing its first Indian branch in 1953 in Mumbai, MUFG has long established a reputation as a trusted partner of global, Japanese and local corporates in India. With the opening of GIFT branch, MUFG’s office network in India has expanded to a network of six branches. MUFG has the largest network for a Japanese bank in the country.
Shashank Joshi, Deputy CEO of India said, “We are extremely proud to launch our GIFT branch at such an important turning point in India’s history, when the country is marking 75 years of independence and also the 70th anniversary of Japan – India relations. India’s growth story has been phenomenal, and MUFG is honoured to be recognised by Indian Prime Minister Narendra Modi to be 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, while harnessing our capabilities and relationships to facilitate greater business collaboration and synergies between the country and Japan.”