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Karnataka Bank Sign MOU for Agricultural Finance

MANGALURU: To finance farmers for agri mechanisation, Karnataka Bank Ltd, City-based private sector bank entered into a memorandum of understanding with the leading agricultural equipment/implements manufacturer M/s Tirth Agro Technology Pvt Ltd, Rajkot.

To establish platform to form a relation on co-operation between the two in identifying farmers buying agricultural implements/equipment and financing them by the bank on its terms, is the main aim behind this MoU. This MoU will also help to further enhancement of agricultural finance to the farmers, such as small and marginal farmers.

The MoU aims to work together to promote agriculture mechanization in India by utilizing expertise of the company in field of manufacturing of high quality agriculture equipment and implements and bank's experience in agricultural finance through its branches across India, said P Jayarama Bhat, managing director and CEO of the bank.

On the occasion, Raghurama, general manager of the bank, M S Mahabaleswhara, chief general manager, Ravi Mathur, national head, sales and marketing of the company and other executives of the bank were present.

Source: http://timesofindia.indiatimes.com/