Question
Recently MUFG Bank establish a branch at the Gujarat
International Financial Tec City (GIFT City) foreign currency-denominated lending business, this bank belongs to which country?Solution
Gujarat International Finance Tech-City (GIFT City) is a business district and India’s first International Financial Services Centre(IFSC) in the state of Gujarat. GIFT City is India’s first operational smart city with the development of world-class infrastructure and sustainable master planning, which will make GIFT at par or above par with renowned international centers. Japanese lender MUFG Bank will establish a branch at the Gujarat International Financial Tec City (GIFT City) in Ahmedabad for foreign currency-denominated lending business. This will be its sixth branch in India. MUFG can support its domestic as well as global clients with an expanded suite of financial services. At present it has presence in Mumbai, Delhi, Bengaluru, Chennai and Neemrana.
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