New Delhi: The Ministry of Culture and Canara Bank have signed an MoU for the disbursal of financial assistance to veteran artists under the ‘Scheme for Financial Assistance for Veteran Artists’.
The program provides monthly financial assistance of Rs. 6000/- to artists and scholars above the age of 60 who have made significant contributions in the fields of performing arts and culture during their active years, or who are still contributing but facing difficulties due to old age and financial hardship.
Currently, the financial assistance for artists selected before 2017 is disbursed through LIC, while for artists approved after 2017, it is disbursed directly by the Ministry. However, there have been delays in receiving documents from beneficiaries, resulting in the lump sum disbursal of funds instead of regular monthly payments.
To address this issue, the Ministry has signed a Memorandum of Understanding (MoU) with Canara Bank. After streamlining the process, Canara Bank will begin disbursing financial assistance to veteran artists monthly within approximately two months. This will also help in resolving the long-pending grievances of beneficiaries.
This initiative reflects the Ministry of Culture's commitment to improving its interaction with the artists' community and the services provided to them. Canara Bank, a leading public sector bank, has expressed its sincere commitment to ensuring smooth and continuous disbursal of funds to veteran artists, leveraging their experience in handling various schemes for different government ministries.
