MoU signed between Ministry of Culture and Canara Bank

Current Context: According to the Ministry of Culture, a Memorandum of Understanding (MoU) was signed between them and Canara Bank on 28.06.2023 for disbursal of financial assistance to veteran artists under the “Scheme for Financial Assistance for Veteran Artists”.

• Under this scheme, a monthly pension of ₹6,000 is provided to artists and scholars above the age of 60 years who have contributed significantly in their specialised fields of performing arts and culture, but are facing financial difficulties due to old age.
• The MoU aims to ensure smooth and continuous disbursal of financial assistance to the veteran artists on a monthly basis, instead of a lump sum amount.
• This initiative is reflective of the Culture Ministry’s commitment to constantly improve the interface with the artists’ community and the services provided to them.

Question:

Q.1 Which bank signed the MoU with the Ministry of Culture for disbursal of financial assistance to veteran artists?
a. State Bank of India
b. Canara Bank
c. HDFC Bank
d. ICICI Bank