Karntaka bank to target rs. 6,800.00 crore of farm credit

Karntaka bank to target rs. 6,800.00 crore of farm credit

Mangalore Today News Network

Mangaluru, July 19,2016: Leading private sector lender of the country, Karnataka Bank is targeting Rs. 6,800.00 crore of farm credit during current financial year 2017-18. This constitutes 18.09% of ANBC (Adjusted Net Bank Credit) as against the minimum regulatory requirement of 18%. In fact, as on 31.03.2017, also Bank has achieved its agriculture advance target of 18% and is confident of maintaining the said achievement level in future.

“In their moment of crisis, farmers need hand holding support and agri lending professionals being technical officers should extend all necessary support. Timely extension of agri credit, technical counseling, marketing input to farmers to reap maximum benefit and thereby ensuring timely renewal shall be focused by Agri business managers so as to have a commercially viable agri portfolio which is remunerative to both Banks as well as to farmers. As the farmers ensure ‘Food Security’ to entire country, Banks should play a proactive role by extending a helping hand” said Shri. Mahabaleshwara M.S., Managing Director & CEO of the Bank. He was delivering key note address in Banks ‘Agri Business Conference’ held today here at Mangaluru.

He also advised the branches to focus on the potential areas, i.e., warehouse receipt finance, H&T loans (Harvesting and Transportation), finance for farm mechanization, agri gold loan portfolio apart from crop loans, development loans and agro processing units.

General Manager, Shri. Muralidhar Krishna Rao in his address advised the Agriculture Field Officers and Branch Heads to achieve the agriculture credit targets on monthly basis.

Chief General Manager, Shri. Raghavendra Bhat M and General Managers Shri. Chandradsekhar Rao B, Shri. Subhaschandra Puranik, Shri. Balachandra Y.V. and Shri. Nagaraja Rao B, were present during the deliberation.

Detailed review on performance of Agriculture Field Officers, Agriculture Development Branches and Green Branches was made and agriculture lending strategies were finalized during the conference.

In the beginning Shri.Vijayshankar Rai K.V., Deputy General Manager, welcomed the participants. The conference concluded with the address of Shri. Raghavendra Bhat M, Chief General Manager and vote of thanks by Shri. Vijay Raghavendra, Chief Manager.