Resona Bank announced that it had entered into a memorandum of understanding on business cooperation with Tata Capital, a subsidiary of Tata Group, one of India's major conglomerates. The cooperation will include financing and other services to support Japanese companies' expansion into the Indian market.
On 24 August, Resona Bank entered into a memorandum of understanding on business cooperation with Tata Capital, a non-bank financial institution under Tata Group, one of India's major conglomerates. The aim is to support Japanese companies' expansion into the Indian market, and the bank indicated that it would support financing and other services through Tata Capital.
Resona Bank will establish a Japanese-language contact desk at Tata Capital's headquarters in Mumbai. It is also expected to provide information on the Indian market, support lending to local subsidiaries of Japanese companies, and assist with business development involving companies under the Tata Group.
The partnership is expected to expand financing opportunities for Japanese companies' operations in India and promote the use of local market information. Specific future developments and terms will be announced at a later date.