Financial Daily from THE HINDU group of publications
Tuesday, Dec 07, 2004
Financial Daily from THE HINDU group of publications Tuesday, Dec 07, 2004 |
|
|
|
|
|
Agri-Biz & Commodities
-
Farm credit Money & Banking - Public Sector Banks Canara Bank loans for pomegranate cultivation in northern Karnataka A. J. Vinayak
Mangalore , Dec. 6 AT a time when bankers are concentrating on area-specific farm credit schemes to widen their agriculture credit portfolio, Canara Bank has taken a step ahead by launching a Rs 30-crore project for pomegranate cultivation in drought-prone taluks of northern Karnataka. Pomegranate Promotion Project for northern Karnataka, prepared by the Canara Bank Agricultural Consultancy Services, envisages covering an area of 10,000 acres in Kustagi, Yelburga, Ron and Koppal taluks with an investment of Rs 30 crore in three years. The General Manager of the Bank, Mangalore Circle office, Mr R.K. Madhukar, told Business Line that nearly 500 farmers in these taluks are availing themselves of the benefits of the scheme. On December 2, the day of launching the scheme, the bank issued sanction letters amounting to Rs 2 crore, to 50 farmers covering 200 acres. One of the reasons for introducing the scheme in the above-mentioned taluks is the high level of crop yield as more and more areas are converted into pomegranate orchards. Mr Madhukar said that the crop has good export potential, and can be cultivated in areas prone to drought. He said that the scale of finance prescribed by National Bank for Agriculture and Rural Development (Nabard) is not a limiting factor for the bank to extend credit for such schemes. While the unit cost prescribed by Nabard for pomegranate cultivation is Rs 30,000 per acre, the bank's study showed that Rs 83,000 is needed for cultivating pomegranate on an acre of land. The investment will be supported by finance even if the area of cultivation goes beyond 10,000 acres, he said. The bank has prepared several area-specific schemes after taking into account the potential of the project in the areas concerned. Among the area-specific schemes launched by the Mangalore Circle Office of the bank, stress is given for the cultivation of rubber and vanilla apart from pomegranate. Schemes for rubber and cashew cultivation have been launched in Dakshina Kannada and Udupi districts; and for vanilla cultivation in Dakshina Kannada, Uttara Kannada, Udupi, Hassan, Kodagu, Chikmagalur and Shimoga districts. Mr Madhukar said that the bank is planning to launch area-specific scheme for papaya cultivation in Gadag district. Apart from this, schemes for pineapple and anthurium cultivation are on the cards in Shimoga and Kodagu districts, respectively.
More Stories on : Farm credit | Public Sector Banks | Horticulture/Fruits & Vegetables | Karnataka
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|