MUFG Bank, Japan's largest bank, has bought a 20% stake in Shriram Finance in a $4.4 billion (over ₹39,600 crore) deal. This marks the largest foreign direct investment (FDI) in India's financial sector to date. MUFG will have the right to appoint two nominee directors on the board of Shriram Finance, one of India's largest retail Non-Banking Financial Companies (NBFCs).