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Bank of Maharastra has signed a memorandum of understanding (MOU) with the Ministry of Science and Technology for operating a Central Nodal Agency (CNA) account to facilitate the implementation of a central sector scheme under the ministry.
As per the agreement signed between the two, BoM will open a CNA account and subsidiary accounts of the implementing agency to allow the funds to reach the end beneficiaries and vendors under the central sector scheme.
The Bank of Maharashtra said that it will help facilitate fund flow to beneficiaries under the ‘Science Institution and Human Capacity Building’ scheme.
