Karnataka Bank has stressed on the need for supporting needy enterprises and agriculturists.
Speaking at the conference of the regional heads of the bank, Mr P. Jayarama Bhat, managing director of the bank, said that needy enterprises are to be guided and provided with credit facilities for sustained progress.
Similarly, agriculturalists are to be given financial support with special monitoring of the end use of the credit facility, he said.
Firm recovery steps against wilful defaulters and prudential restructuring of genuine borrowers (defaulters) are the need of the hour, he said.
Stating that global economy is still unstable, he said India is not free from its adverse effects.
“Indian rupee slippage is a burden on imports. Monsoon has not yet picked up as expected. This will be another prominent factor which may adversely affect the Indian economy. At this juncture, banks have to take cautious step and convert these challenges into opportunities,” he said.
Mr M.S. Mahabaleshwara Bhat, general manager, detailed the performance of the bank for the quarter ended June 2012. General managers Mr P. Jairama Hande, Mr N. Upendra Prabhu, Mr M.V.C.S. Karanth and Dr Meera B. Aranha, were present.