Karnataka Bank has identified 51 branches for focussed attention to agriculture lending. With this, the bank is targeting Rs 1,000 crore disbursements in agriculture sector during 2012-13.
Mr P. Jayarama Bhat, Managing Director of the bank, said this while delivering the keynote address at the ‘Agri-Business Conference' of the bank here on Thursday.
Growth centres
He said that the bank has already identified certain growth centres throughout India. It would make concerted efforts for increased credit flow.
Mr Bhat told
Of the total 503 branches of the bank, these 51 will be known as green-belt branches, he said.
The total agriculture portfolio of the bank stood at around Rs 2,800 crore at the end of 2011-12. During that year, the bank disbursed around Rs 800 crore to agriculture sector, he said.
The bank is also planning to introduce ATM cards for Kissan Credit Card accounts of the farmers. More thrust will also be given for financial inclusion and reaching out to rural population in big way, he said.
DENIES RUMOURS
To a query on Thursday's market rumours that the bank is a takeover target by another private bank, he denied it flatly.
Stating that the bank is witnessing organic growth, he said it recorded a business growth of 17 per cent in 2011-12. It is targeting a business growth of 25 per cent during the current fiscal. “All these rumours of takeover target are false,” he added.
On Thursday, the scrip of the bank closed at Rs 86.55, up 5.23 per cent, against the previous close of Rs 82.25.