Japan banks to bulk up India presence

Japan’s largest banks are planning to increase their presence in India, buoyed by Prime Minister Narendra Modi’s reform agenda and improving ties between the two countries.

According to reports, Japanese lenders including Mitsubishi UFJ Financial Group (MUFG) and Mizuho Financial Group Inc are planning to open branches in India plan. They are also focusing on new services such as corporate deposits, M&A financing and debt capital market advisory.

Japan is setting a target of doubling investments in India within five years.

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