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Union Bank, Keva Biotech sign pact

HYDERABAD: Union Bank of India has signed a memorandum of understanding with Keva Biotech, for financing medicinal and herbal plants cultivation. Under the tie-up, the bank will finance farmers who purchase planting material and other inputs from the company, and the company will arrange to buy-back the harvested crop. The sale proceeds will be deposited with the lending branch towards repayment of finance, and the balance amount will be credited to the farmer, says a release. — Our Special Correspondent

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