For Agriculture Sector, Karnataka Bank to Lend 6,120 crore

Mangaluru: During the current fiscal, Karnataka Bank has earmarked Rs 6,120 crore to the agriculture sector. P Jayarama Bhat, MD and CEO noted that, because by the agriculture sector of around 58% of rural households here depend on agriculture as their principal means of livelihood and about 16% of gross domestic product is being contributed.

At the head office of bank while inaugurating the agriculture business conference of the bank, he said that the rural sector also has tremendous potential for employment generation and capital deployment.

He was addressing agriculture field officers, branch heads of agriculture development branches, green branches and regional heads from across India. Key for real and sustainable development in India is hold rural development initiatives, to promote agriculture-related activities throughout the financial year the bank would take all necessary steps.

Agriculture lending is a national priority, said Mahabaleshwara M S, chief general manager. He said "Agriculture field officers should rise to the occasion in extending timely and adequate credit to farming sector, besides focusing on end use and timely recovery so as to keep up the health of agriculture portfolio."

"Achieve the agriculture credit target on quarterly basis", is the advice given by Raghurama, GM, to the agriculture field officers and branch heads.

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