The Memorandum of Understanding (MoU) signed between the Culture Ministry and Canara Bank serves the purpose of ensuring a monthly disbursal of financial assistance to veteran artists. Here are the key points regarding the MoU:

• The MoU aims to provide consistent financial support to artists who have made significant contributions to the field of art and culture.
• Canara Bank will act as the financial institution responsible for disbursing the monthly assistance to the veteran artists.
• The MoU clarifies the roles and responsibilities of both the Culture Ministry and Canara Bank in implementing and facilitating the assistance program.
• Through this collaboration, the Culture Ministry intends to extend support and recognition to the veteran artists, acknowledging their contributions and ensuring financial stability in their later years.
• Regular monthly disbursals will help alleviate financial concerns and enable the veteran artists to focus on their artistic endeavors.

Overall, the MoU between the Culture Ministry and Canara Bank establishes a framework for providing regular financial assistance to veteran artists, emphasizing the importance of supporting and honoring their contributions.