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Stanchart, Central Bank sign pact

MUMBAI: Standard Chartered Bank has entered into a strategic tie-up with Central Bank of India for trade finance. The agreement covers all letters of credit issued by the public sector bank to Asian countries, a press release issued by the two sides said here today. As per the partnership, Central Bank would direct their letters of credits to ten countries through SCB Hong Kong, which would then reissue them to the ultimate beneficiaries. — PTI

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