Mitsubishi UFJ Financial Group Inc. plans to begin lending to Indian real estate
firms and expand its foreign exchange derivatives business in the country,
according to MUFG India deputy CEO Shashank Joshi. The bank is setting up a team
to start operations this fiscal year as part of its broader expansion in India
following a $4.4 billion stake purchase in Shriram Finance, bringing total
investment in the country to about $7 billion. MUFG will fund both domestic and
foreign developers using its Indian balance sheet, primarily in
rupee-denominated debt, while also considering foreign-currency lending as the
business grows.
