CCI Approves MUFG Bank Stake in Shriram Finance

New Delhi, Mar 25 (PTI) Fair trade regulator CCI on Wednesday approved Japan's Mitsubishi UFJ Financial Group Inc (MUFG) Bank's proposal to acquire a stake in Shriram Finance.

The development came after MUFG Bank in December 2025 said it will acquire a minority stake of 20 per cent in non-bank lender Shriram Finance for Rs 39,618 crore (around USD 4.4 billion), marking the largest cross-border investment in India's financial sector to date.

"Commission approves the acquisition of certain shares in Shriram Finance Limited (target) by MUFG Bank Ltd (acquirer)," the regulator said in a release.

MUFG Bank is a banking institution and is part of Mitsubishi UFJ Financial Group. In India, MUFG Bank provides corporate banking loans, deposit accounts, remittances, trade finance, bank guarantees, and hedging.


Shriram Finance Ltd is a non-banking financial company. It is classified as an investment and credit company by the RBI and categorised as an "NBFC-Upper Layer".

In a separate release, CCI approves the acquisition of the shareholding of Groww Asset Management Ltd by State Street Global Advisors, Inc.

State Street is a subsidiary of State Street Corporation (SSC) and operates under the "State Street Investment Management" brand, which is the asset management arm of SSC.

Groww Asset Management is a wholly owned subsidiary of Billionbrains Garage Ventures which manages various schemes of Groww Mutual Fund (Groww MF).

The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices, as well as promotes fair competition in the marketplace.