SBI partners Mitsubishi to finance projects, M&A

MUMBAI: Japan's Mitsubishi UFJ Financial Group and State Bank of India on Wed announced a strategic partnership to structure and finance projects, including mergers and acquisitions, acquisitions, and real estate funding for Indian and global clients.The alliance follows new rules by Reserve Bank of India allowing banks to fund corporate acquisitions up to 75% of deal value for listed and unlisted firms. The rules take effect from April 1."Through our partnership with SBI, MUFG aims to provide integrated cross-border solutions that support both inbound investment into India and outbound expansion by Indian corporates. This collaboration reflects our long-term commitment to strengthening economic ties between Japan and India," said Takuya Senoo, Regional Executive for India & Sri Lanka, MUFG BankThe partnership combines SBI's domestic reach and market leadership with MUFG's global network and cross-border structuring expertise. The focus is to support Japanese companies expanding in India and Indian firms pursuing overseas growth, including entry into Japan and other markets.