Karnataka bank targets 9000cr of agri credit in FY18-19
Myequity news service | Date : 22-06-2018 22:30:00 IST
Seeing opportunity in farm sector Karnataka bank targets 9000cr of agri credit this year. Speaking in Agri Business Conference held in Mangaluru today, Shri Mahabaleshwara M S, Managing Director & CEO of the Bank said “It is well known fact that following modern agricultural practices lead to increase in productivity and bank shall be in forefront in extending a helping hand to the farmers for adopting new technology. Agri. business managers who are in direct contact with farmers shall counsel the farmers and advise them about the market conditions, crop patterning etc with the help of new age technology and empower them for taking better decisions”.
“With the Government's vision of doubling farmer's income by 2022, there are enough opportunities for financing in agricultural sector. The monsoon has started on a very positive note and forecasts for the ensuing months are also encouraging. Bank will bestow special focus to leverage these positives and is targeting to reach 9000.00 crore of farm credit portfolio for FY 2018-19” said the MD & CEO of Kamataka Bank.
He also advised the branches to focus on the areas like warehouse receipt finance, irrigation, farm mechanization, agri. gold loan, crop loans, development loans and loans to agro processing units for increasing agri credit portfolio.
Karnataka bank closed at Rs. 116.80 up 1.04%.