The objective of the Memorandum of Understanding (MoU) signed between the Culture Ministry and Canara Bank in India is to ensure the timely and regular disbursal of financial assistance to veteran artists. 1. Timely Disbursal: The MoU aims to streamline the process of disbursing monthly financial assistance to veteran artists, ensuring that they receive the support they are entitled to. 2. Regular Support: Through this collaboration, the Culture Ministry and Canara Bank seek to provide regular financial assistance to veteran artists, enabling them to sustain their livelihood and continue contributing to the cultural heritage of the nation. 3. Efficient Process: The MoU aims to establish an efficient mechanism for the disbursement of funds, reducing delays and ensuring that veteran artists receive their assistance without any hassles. 4. Financial Security: By providing regular monthly assistance, the MoU aims to enhance the financial security and well-being of veteran artists, recognizing their significant contributions to the field of art and culture. Overall, this MoU is significant as it ensures timely and regular financial support to veteran artists, promoting their welfare and acknowledging their immense contributions to the country's cultural heritage.