Canara Bank, a public sector bank, has signed a Memorandum of Understanding (MoU) with Volvo-Eicher Commercial Vehicles (VECV) for financing vocational education loans.
Recently, the bank issued four crore fully paid-up equity shares to Life Insurance Corporation of India (LIC) on preferential basis valued at about Rs 1,396.80 crore. The bank had passed a special resolution by its shareholders at its EGM on April 30 for issue and allotment of 4 crore equity shares to LIC.