ICICI Bank-MUFG Bank to serve Japanese corporates in India

Second largest private sector lender ICICI Bank on Friday tied up with Japan's MUFG Bank, with an eye on the business generated by companies from the eastern Asian country present in India. Both the banks signed a memorandum of understanding (MoU) for collaboration towards catering to the banking requirements of Japanese corporates present in India, as per an official statement. The statement said Japan is the fif th largest investor in India with cumulative foreign direct investment inflows of USD 34.15 billion from April 2000 to September 2020.