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Bangalore, July 9

Canara Bank has received the licence from the China Banking Regulatory Commission for opening a branch in Shanghai. Canara Bank opened its Representative Office in Shanghai in August 2005, a preparatory step for opening a branch.The Shanghai branch of the bank will handle businesses such as Letter of Credit service, guarantees for trade finance, apart from accepting public deposits, issuing short-term, medium-term and long-term loans, handling acceptances and discounting o f negotiable instruments, said a bank release. –

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