CCI okays Japan's MUFG Bank proposal to acquire stake in Shriram Finance The Competition Commission of India (CCI) has approved Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) Bank’s proposal to acquire a minority stake in Shriram Finance. This marks the largest cross-border investment in India’s financial sector to date. MUFG Bank, a subsidiary of Mitsubishi UFJ Financial Group, will acquire a 20 percent stake in Shriram Finance Ltd for Rs 39,618 crore (approximately USD 4.4 billion). The deal was first announced in December 2025, with MUFG Bank identifying Shriram Finance as a key target for its expansion in India’s non-banking financial sector. MUFG Bank operates as a banking institution in India, offering services such as corporate banking loans, deposit accounts, remittances, trade finance, bank guarantees, and hedging. Shriram Finance Ltd, a non-banking financial company (NBFC), is classified as an “NBFC-Upper Layer” by the Reserve Bank of India (RBI). The CCI’s approval underscores its role in regulating market competition and ensuring fair practices in financial transactions. In a related development, the CCI also approved the acquisition of Groww Asset Management Ltd’s shareholding by State Street Global Advisors, Inc. State Street, a subsidiary of State Street Corporation, is a major player in asset management. Groww Asset Management is a wholly owned subsidiary of Billionbrains Garage Ventures, which manages Groww Mutual Fund schemes. These approvals highlight the regulator’s oversight of significant financial transactions and its commitment to maintaining competitive markets.#reserve_bank_of_india #competition_commission_of_india #shriram_finance #mitsubishi_ufj_financial_group #state_street_global_advisors
