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.
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.