The Hindu Business Line : South Indian Bank in pact with varsity

Kerala Agricultural University and South Indian Bank have signed an MoU for integrated development of agriculture under which the two will strive to increase the productivity and employment in rural areas, especially in the agricultural regions of Kerala.

Though Kerala is emerging as a major economic powerhouse registering high growth in the cities and urban centres, there is no uniform development in rural hinterlands to keep pace with the march of these urban centres, a press release issued here said.

The MoU was signed between Mr K.R. Vishwambharan, IAS, Vice-Chancellor, KAU, and Dr V.A. Joseph, Chairman of the bank.

PILOT PROJECT

Dr Joseph said on the occasion that the bank would be taking up the pilot project in its home district of Thrissur before expanding to other districts of the State.

Under the scheme, agricultural borrowers would be trained as to how to get optimum utility of the borrowed funds. This is necessary since it has been found that many such borrowers have diverted huge funds for construction of opulent houses.

Under the joint initiative, the KAU will identify the eligible self-help groups (SHGs) within the district with the help of the technical cell of the university, and South Indian Bank will provide financial assistance to such SHGs.

Mr Viswambharan in his address requested the bank to give the lead in forming more self-help groups to protect the interest of the farmers of the district.

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