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Karnataka Bank has entered into a memorandum of understanding (MoU) with Daimler India Commercial Vehicles (DICV) for extending finance to those planning to buy commercial vehicles manufactured by the company. DICV has nominated Karnataka Bank as preferred financier for purchase of commercial vehicles manufactured by it, a press release issued here on Monday said. Quoting P Jayarama Bhat, Managing Director and CEO of the bank, the release said the MoU is one more proactive step initiated by the bank to extend finance to clients in segments such as micro, small and medium enterprises to purchase commercial vehicles.
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