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MUFG to open first Japanese bank branch in Indian fintech zone

Lender looks to provide low-cost dollar financing from Gujarat site

MUFG Bank will open its sixth Indian branch in the smart city special economic zone being developed in Gujarat.   © Reuters

TOKYO -- MUFG Bank will become the first Japanese lender to establish a presence in an Indian fintech hub and special economic zone being created in the western state of Gujarat.

The bank branch is expected to open during the summer in the Gujarat International Finance Tec-City (GIFT City) in the Ahmedabad area. The office will be MUFG Bank's sixth branch in India after those in New Delhi and Mumbai.

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