The Bank of Maharashtra (BoM) has inked an agreement with the Ministry of Science and Technology (MoST) to register a Central Nodal Agency (CNA) account to implement a central sector plan under the ministry.
According to the memorandum of understanding (MoU), the Bank of Maharashtra will open a CNA account in addition to subsidiary accounts of the implementing agency on Sunday. These are the accounts through which the funds from the central sector scheme will be transferred to the end beneficiaries and vendors.
According to the bank’s announcement, “Science and Technology Institutional and Human Capacity Building” beneficiaries will benefit from bank assistance.
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