Financial Daily from THE HINDU group of publications
Saturday, Jun 18, 2005
Financial Daily from THE HINDU group of publications Saturday, Jun 18, 2005 |
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Money & Banking
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Farm credit Karnataka Bank finalises agriculture credit plan Our Bureau
Mangalore , June 17 KARNATAKA Bank Ltd has finalised an agriculture credit plan envisaging fresh deployment of Rs 350 crore towards agriculture for 2005-06. A bank release said here on Friday that the credit plan was finalised at the Agri Business Conference 2005 in Mangalore recently. Inaugurating the conference, the Chairman and Chief Executive Officer of the bank, Mr Ananthakrishna, said there is a need to enlarge the sphere of agriculture activities financed by the bank. The 30-per cent annual growth in agriculture credit flow should be achieved. Mr Ananthakrishna released two new schemes - KBL Krishik Sarathi, covering farm mechanisation activities, and KBL Krishik Sinchana, covering irrigation activities. He said there is a need to expand the geographical spread in agriculture lending. He hoped the attractive interest rate offered by the bank in these two new schemes would help increase agriculture credit flow. Referring to the package of relief measures announced by the Central Government to revive the coffee sector, Mr Ananthakrishna called upon field functionaries to help coffee growers through quick and pro-active action at the grass root level. Welcoming the gathering, Mr N.S. Chakkera, General Manager (credit), said the bank's finance to agriculture sector reached Rs 625 crore during 2004-05. He called upon the branches to give special attention to the coffee sector to which the bank has financed substantially. He said the branches should immediately implement the Government's relief package to the coffee sector that ends on June 30, as the Union Commerce Ministry has clarified that the scheme will not be extended under any circumstances. The conference finalised the region-wise agriculture credit target for 2005-06.
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