One of the world’s largest and Japan’s major financial units, MUFG bank on Wednesday, August 17, 2022 announced the commencement of its operations from Gujarat International Finance Tec-City (GIFT city) in Gandhinagar, Gujarat.
Earlier in the month of May, MUFG had received the final acceptance from the International Financial Services Centres Authority in India and the Financial Services Agency of Japan to begin its operation in the state.
Mumbai received its first operation in the year 1953. Now, a total number of branches has reached to a figure of six. The other divisions are based at New Delhi, Chennai, Bengaluru and Neemrana including GIFT city based at Gujarat.
In its recent media release, MUFG stated- “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.”
Meanwhile, voicing his views regarding the phenomenal and success story of India, the Deputy CEO of India, Shashank Joshi said, “We are fully committed to leveraging our presence in GIFT City to contribute to India’s vision of being a gateway to the world.”
Further, he added, “Bank will harness its capabilities and relationships to facilitate greater business collaboration and synergies between India and Japan.”
The project was conceptualised in the year 2007, when the Indian Prime Minister Narendra Modi was the Chief Minister of Gujarat. The idea behind this mission was to create a world-class Finance-cum-IT zone for the country in order to provide best of the financial services across India and the World.