Make traditional farmers into modern entrepreneurs – CEO of Karnataka Bank.
Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank, says that it is the job of banks to turn traditional farmers into modern entrepreneurs. This change gives banks a lot of chances to lend money, he says.
He told the people at the bank’s Agri-Business conference that farmers need to use modern farming tools and methods and think outside the box. Also Read | Trained management professionals can better fix Agri-business problems: IIM-A.
Precision farming and the use of drones have come a long way to be at the forefront of modern farming. This helps make food more affordable, increases supplies and makes sure it will last. He said that food processing and Agri infrastructure are important parts of modern agriculture, especially for goods that go bad quickly.
‘Help farmers in a proactive way.’
Mahabaleshwara said that what people need right now is to learn more about the market, get ready for natural disasters, and do high-tech farming. For this reason, banks should be proactive about giving out credit.
‘KBL AgriNxt is part of our ‘Transformation Wave 2.0’ (KBL NxT), which is a high-tech digital project. ‘By working with agri-fintech companies, the bank is looking into how it might be able to join the new digital changes in the agriculture sector,’ he said.
Since the beginning, Karnataka Bank has helped the priority lending programs that help farmers. The bank has loan products that are made just for farmers and are updated often to meet the needs of the market. He said that farmers should make good use of the bank’s loans for agriculture.
He also said that the bank’s Agriculture Field Officers play an important role and should be sensitive to farmers’ needs on the ground by giving them credit on time.