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Karnataka Bank eyes agri credit of Rs 6,800 cr in FY'18

This constitutes 18.09 per cent of adjusted net bank credit as against the minimum regulatory requirement of 18 per cent, the bank said in a statement.

July 20, 2017 / 08:43 AM IST
Agriculture Sector | Technological advancements are reshaping Africa’s agricultural sector in helping to pioneer a new agro-business strategy. Automation is replacing many jobs traditionally done by farm labourers such as harvesting and crop sorting. (Image Source: )

Agriculture Sector | Technological advancements are reshaping Africa’s agricultural sector in helping to pioneer a new agro-business strategy. Automation is replacing many jobs traditionally done by farm labourers such as harvesting and crop sorting. (Image Source: )

 
 
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Private sector Karnataka Bank said it is targeting Rs 6,800 crore agri credit in the current financial year.

This constitutes 18.09 per cent of adjusted net bank credit as against the minimum regulatory requirement of 18 per cent, the bank said in a statement.

The private sector lender said it achieved the target of 18 per cent agriculture advance target in the fiscal ended March and is confident of maintaining the level in future.

"In their moment of crisis, farmers need hand-holding support. Timely extension to agri credit, technical counselling, marketing input to farmers to reap maximum benefits...is remunerative to both banks as well as farmers," Bank MD and CEO Mahabaleshwara M S said in the statement.

first published: Jul 20, 2017 08:05 am

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