Bangalore: The Commercial Bank of India LLC (CBI), a joint venture between public sector Canara Bank and State Bank of India has begun operations in Moscow.

SBI holds 60 per cent equity in CBI, the first wholly Indian-owned commercial bank in Russia with the remaining 40 per cent by Bangalore-based Canara Bank, a bank statement said in Bangalore today.

CBI will offer services in the realms of exim finance, remittances and settlements, Letter of Credits and guarantees, besides working capital and term loan financing for corporate clients.

Canara Bank Chairman and Managing Director R V Shastri, State Bank of India Deputy Managing Director B D Sumitra and Central Bank of Russian Federation Deputy Managing Director V N Smimov were present during the inauresented annual awards of the Trust for 2002-03 and 2003-04 in six categories including the best are-giver's training to the Local Level Committees in Paembalur in Tamil Nadu and Bhopal in Madhya Pradesh.

The National Trust, a statutory body under the Ministry, provides home-based care for persons with autism, cerebral palsy, mental retardation and multiple disabilities. It also serves these people by supporting and starting day care centres, respite care and residential care centres, Trust Chairperson Aloka Guha said adding that till date it has covered 12,000 disabled people.