Under the memorandum of understanding, both the companies seek to cooperate in the areas of ninja loans, project and infrastructure finance, and treasury products, a release from Tata Capital said. A ninja loan is a type of subprime loan issued to borrowers with no income, no job and no assets.
"The memorandum of understanding will help both the entities co-develop innovative offerings and shared services platforms for the evolving corporate customers," Praveen P Kadle, managing director, Tata Capital, said.
Tata Capital is a non-banking financial company, providing services in retail finance, corporate finance, distribution and broking, capital markets, private equity, wealth management and rural finance.
Mizuho Corporate Bank, a wholly owned subsidiary of Mizuho Financial Group, provides services in the areas of corporate and project finance.
In February, Tata Capital tied up with Mizuho Securities for investment banking and private equity operations in India.