Resona Bank deepens ties with Tata Cap

MUMBAI: Japan’s Resona Bank on Monday announced a tie-up with Tata Capital to provide its clients better access to financing solutions and opportunities in India using the non-bank lender’s local network. The announcement follows a $20 million investment by Resona Bank as a limited partner in Tata Capital Growth Fund III LP, which invests in Tata Capital Growth Fund III, a fund managed by Tata Capital, as per an official statement. However, the Japanese lender did not reveal the timeline of this investment. Under a memorandum of understanding (MoU) announced on Monday, both Tata Capital and Resona Bank will leverage their respective strengths in the Indian market, it said, adding that this is a non-exclusive collaboration under which opportunities will be explored through Tata Capital’s network.