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Karnataka Bank agriculture business to go up to 18.84%

Karnataka Bank agriculture business to go up to 18.84%


Mangalore Today News Network

Mangaluru, June 10, 2015: Delivering the key-note address at the agri-business conference of the bank here on June 9, Tuesday, Karnataka Bank Managing Director and CEO P Jayarama Bhat said. 

 

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Karnataka bank is all gearing up for an agriculture portfolio of Rs 6,115 crore by March 2016, with an annual growth rate of 18.84 per cent.  Now the bank has 10 Agriculture Development Branches (ADB), 142 Green Branches and 52  Agriculture Field Officers (AFOs) as dedicated resources for branches  to ensure hassle free  agriculture  lending and to minimise occurrence  of  non-performing  advances.

The bank will continue to finance needy borrowers  under all sectors  of  agriculture to  ensure  inclusive  growth in accordance  with the recently revised guidelines  of  Reserve Bank of India,  Karnataka Bank Managing Director and CEO P Jayarama Bhat said.  He went on to say the bank  launched ‘Kissan Rupay Debit Credit” which  is  linked  to  KCCOD (Kisan Credit Card Overdraft) account  of  the  farmer clientele with built in accident  cover of  Rs 1 lakh without  any extra premium and  validity period  of ten years.  It is  expected  to  benefit  large number  of  farmers who have  availed  crop loan  in  the  form  of KCCOD as  they can transact  through ATMs.

Chief General Manager M S Mahabaleshwara said the bank should focus  more on developing  a  stress free  agriculture credit portfolio.   Besides, extending technical guidance to farmer clientele, the Agriculture Field Officers should ensure timely credit delivery and  its end use and recovery.

General Manager Dr Meera Aranha in her  address  advised the participants to achieve the stipulated target under agriculture advances by focusing on strategies more closely.  


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