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Canara Bank and Central Warehousing Corporation (CWC) signed a memorandum of understanding (MoU) on Monday under which the bank will provide finance to borrowers against warehouse receipts issued by CWC for the storage of farm produce in their godowns across the country, a statement said.
Officials of CWC and Canara Bank believe that this MoU will go a long way in strengthening their existing relationship.
The Canara Bank scrip ended around 3 per cent higher on the BSE to close at Rs 451.70 on Tuesday.
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