Finance

Karnataka Bank sets Rs 6,800 crore agri-credit target this financial year

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Karnataka Bank has targeted Rs 6,800 crore of farm credit constituting 18.09 per cent of ANBC (Adjusted Net Bank Credit) as against the minimum regulatory requirement of 18 per cent, according to an official statement issued by the bank.

The bank had achieved its agriculture advance target of 18 per cent during the previous fiscal too, said the release. Speaking at the regional heads’ quarterly review meeting here,  Mahabaleshwara said the bank would take a big leap in business in the remaining months of the fiscal after encouraging results in the first quarter.

Chief General Manager M Raghavendra Bhat, all regional heads from across the country, department heads and senior executives at the head office were present at the meeting. MS Mahabaleshwara, MD and CEO, Karnataka Bank, said the agri-business managers should focus on timely extension of credit, technical counselling and marketing input to farmers to reap maximum benefit.

He also said as farmers ensure food security to the country, banks should play a proactive role by extending a helping hand.

He also advised the branches to focus on potential areas, that is, warehouse receipt finance, harvesting and transportation, finance for farm mechanisation, agri-gold loan portfolio apart from crop loans, development loans and agro processing units.

Karnataka is leading in many agricultutal reforms in the State.

An Android mobile application in kannada – Dairy Farming – to provide scientific information to farmers through multimedia (audio and visuals) has been developed by Karnataka Veterinary Animal and Fisheries Science University, Bidar and Veterinary College, Bengaluru, according to the University.

The App provides information on suitable breeds of cattle and buffaloes for dairy farming, heat symptoms and artificial insemination, selection of high-yield cows, feeding, diseases and clean milk production.

This app can be downloaded free of cost from Google Play Store.

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