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Karnataka Bank Ltd is targeting a farm credit of ₹6,800 crore during 2017-18, constituting 18.09 per cent of adjusted net bank credit as against the minimum regulatory requirement of 18 per cent.
Delivering the keynote address at the ‘Agri Business Conference’ of the bank in Mangaluru on Wednesday, Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said that the bank had achieved its agriculture advance target of 18 per cent in 2016-17, and it is confident of maintaining the achievement level in future.
He said that timely extension of farm credit, technical counselling, marketing input to farmers to reap maximum benefit and thereby ensuring timely renewal shall be focused by agri business managers to have a commercially viable farm portfolio. This is remunerative to both the bank and farmers.
As the farmers ensure food security to the country, banks should play a proactive role by extending a helping hand, he said.
The branches were also advised to focus on potential areas such as warehouse receipt finance, loans for harvesting and transportation, and finance for farm mechanisation.
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