Agri Business

Agri processing, infra provide enough lending opportunities: Karnataka Bank MD

Our Bureau Mangaluru | Updated on July 20, 2019 Published on July 20, 2019

Mahabaleshwara MS, MD and CEO, Karnataka Bank

There are enough opportunities for financing in the areas agri processing and agri infrastructure, according to Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank.

Delivering the keynote address at the ‘Agri Business’ conference of Karnataka Bank in Mangaluru on Saturday,

he said that with the Government’s thrust on food and agro processing sector through ‘PM Kisan Sampada Yojana’ and formation of separate ministry for animal husbandry and fisheries with a vision to double farmer’s income by 2022 there are enough opportunities for financing in agricultural sector, mainly in agri processing and agri infrastructure.

It is an era where modern technology and practices are taking over the conventional methods of agricultural practices. This eventually leads to increase in productivity and effective handling of produce.

Stating that food and agri processing sector plays a vital role in the modern day agriculture, he said “agri processing will enhance the shelf life and value addition to agri produce.”

He said the banks have job on hand to make conventional farmer into a modern day entrepreneur, and this change itself provides abundant lending opportunities.

Stressing the need for cropping pattern and plan to cultivate mix of food and cash crops, Mahabaleshwara said this can help avoid unforeseen circumstances such as fall in prices, low production, etc.

The bank has more and more farmer friendly agri products that are being regularly updated as and when required to take agriculture portfolio to new heights, he said.

Balachandra YV, Chief Operating Officer of the bank, and Gokuldas Pai, Chief Business Officer, addressed the participants and highlighted the need for a healthy agri portfolio.

Published on July 20, 2019
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