MUFG's Strategic Move: A 20% Stake in Shriram Finance

MUFG, a Japanese bank, has acquired a 20% stake in Shriram Finance, appointing two directors to the board. This investment represents the largest cross-border investment in India's financial sector. The appointments await final approvals from the Reserve Bank of India as part of the transaction's completion.

MUFG, the prominent Japanese bank, is set to make significant waves in India's financial sector by strategically acquiring a 20% stake in Shriram Finance.

This monumental investment includes the appointment of two new directors, Morihiko Fuji and Shinichi Fujinami, to satisfy regulatory prerequisites. Both appointments are pending approval from the Reserve Bank of India (RBI).

The acquisition, valued at Rs 39,618 crore, marks the largest cross-border investment in India's financial domain, reflecting MUFG's confidence in the market's growth potential.

(With inputs from agencies.)