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Finance

MUFG Bank injects $380m into Indian branches to bolster lending

Japanese lender boosts capital base to meet booming business activity

MUFG Bank in August became the first Japanese lender to open a branch in a special economic zone in the Indian state of Gujarat. (Photo by Jun Watanabe)

TOKYO -- Japan's MUFG Bank provided 30 billion rupees ($380 million) in additional capital to five branches in India on Tuesday to meet growing demand for loans.

The infusion brings the total capital base of the MUFG branches to 52 billion rupees, excluding surplus capital. Indian regulations limit the amount banks can lend to a single borrower to 20% of their capital funds.

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