The MoU establishes a framework of partnership between the banks across various domains including trade, investment, treasury, corporate and retail banking. It also paves way for the two banks to combine their individual strengths and cater holistically to the banking requirements of Japanese corporations operating in India.
Vishakha Mulye, Executive Director, ICICI Bank said, “Over the years, India has emerged as a preferred destination for foreign investment, with Japan ranking consistently amongst the top countries investing in India. Japan and India have strong bilateral relations and there are several synergies between two leading banks in Japan and India, which this partnership seeks to harness.”Vishakha further added, ”We have recently launched an online platform for foreign companies looking to establish or expand business in the country, called ‘Infinite India’, which is the most comprehensive platform in India offering a wide range of banking and value-added services to meet requirements of foreign companies throughout their business lifecycle. We are confident that ‘Infinite India’ will enable us to offer a more comprehensive product and service suite to the Japanese companies under this partnership.”
Junsuke Koike, Executive Officer and Regional Executive for India and Sri Lanka, MUFG Bank said, “MUFG’s involvement in India goes back 127 years to 1894, when Yokohama Specie Bank, a forerunner of MUFG, opened an office in Mumbai .To this very day, India continues to be a key strategic market in MUFG’s global network.”
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