The Hindu Business Line : Canara Bank disburses Rs 35-cr farm loans

THE Mangalore Circle of Canara Bank, which has an agricultural clientele base of 16,000 in Dakshina Kannada and Udupi districts, has disbursed Rs 35 crore agricultural loans in these districts till date during current financial year.

The bank has set a target of disbursing Rs 60 crore agricultural loans in these districts during the current fiscal. A press release said that of the Rs 35-crore disbursed so far, Rs 27 crore has been disbursed under short-term loan. Mr R.K. Madhukar, General Manager, Mangalore Circle, said of the 65 branches in these two districts, 38 are in rural and semi-urban areas. To meet the need-based requirements of farmers, the bank has formulated area-specific schemes on vanilla and jasmine cultivation, and rubber development for these two districts. The bank has also advocated the branches to popularise tree-borne oil seed production such as the cultivation of jatropha and neem, he said. Though the usage of farm machineries such as tractors and tillers is very limited in Dakshina Kannada and Udupi, the bank has made an attempt to disburse a minimum of 50 tractors by the end of the current fiscal. The bank wants the number of SHGs to 1,800 during the year.

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