By how many crores has MUFG Bank (Japan) raised the capital of its branches in India on 21st Sep 2022?

Banking - General Knowledge Questions

â‚¹1,000 crore

â‚¹2,000 crore

â‚¹3,000 crore

â‚¹5,000 crore

Correct Answer : â‚¹3,000 crore

Japan’s MUFG Bank on Wednesday(21st Sep 2022) said it has boosted the capital of its branches within India by â‚¹3,000 crore, as the bank looks to expand its India business, it said in a statement. As a result of this capital injection, the total capital of MUFG Bank in India will rise to â‚¹5,207 crore, the statement said.

With the help of the funds, MUFG Bank will strengthen its financial base in India and better respond to the diverse financing needs of its clients, it added.

“India’s growth has been a phenomenal success story and this capital increase is a reflection of MUFG’s optimism of the country’s future and commitment to its long-term development. MUFG is proud of its longstanding presence in India and our ambition has always been to establish ourselves as one of the top global foreign franchises here.

With this increase in capital, we will be in a stronger position to better support our clients and their aspirations, while further showcasing the remarkable opportunities that India has to offer to global companies," said Atsushi Deguchi, regional executive of India and Sri Lanka at MUFG Bank..

Source : Mint

Published On : September 23, 2022

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Fino Payments Bank

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PhonePe Payments Bank

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Category : Banking

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