Money & Banking

Agri-tourism projects of farmers to get KVG funds

AJ Vinayak Mangaluru | Updated on April 11, 2019 Published on April 11, 2019

In its efforts to provide additional revenue to farmers and to boost agri-tourism under its area of operation, the Dharwad-headquartered regional rural bank Karnataka Vikas Grameen Bank (KVGB) is planning to finance agri-tourism projects taken up by farmers.

During his visit to Mangaluru on Thursday, S Ravindran, Chairman of KVGB, told BusinessLine that the new scheme is aimed at those farmers who have sufficient agricultural land to develop agri-tourism.

Stating that the bank operates in nine districts of Karnataka, he said, coastal Karnataka has arecanut and coconut plantations, while northern districts such as Belagavi, Dharwad and Vijayapura have coconut plantations, mango groves, and pomegranate orchards, among others.

These agricultural activities and the landscape provide scope for taking up agricultural tourism in these areas. Urban tourists prefer to visit and get an experience of such places. The tourists can go to the farmers home, stay like a farmer, engage in farming activities, and enjoy the rural cuisine. However, he said, there is a need to educate farmers on the potential of agri-tourism projects.

Ravindran said the bank is planning to finance at least 50 such projects during the current fiscal.

The cost of the project is based on factors such as room capacity at the farmer’s place, area, and the availability of pick-up vehicles for tourists. Under this scheme, the purchase of vehicles to pick up and drop customers will also be financed. The minimum loan under this scheme is ₹5 lakh, he said.

The bank has 636 branches in Dharwad, Gadag, Haveri, Bagalkote, Vijayapura, Belagavi, Uttara Kannada, Udupi and Dakshina Kannada districts of Karnataka.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on April 11, 2019
This article is closed for comments.
Please Email the Editor