A press release by the bank said here that finance to farmers will be extended under ‘Krishik Bhandar’ scheme of the bank. EICML has nominated Karnataka Bank as preferred financier for extending finance to farmers against the warehouse receipts.
Quoting Mahabaleshwara MS, Chief General Manager of the bank, it said that this initiative will help farmers to store their agriculture produce by avoiding distress sale, earn better price and simultaneously take loan for farm operation.
Meera LB Aranha, General Manager of the bank, and Shekar Subhramanyam, Vice-President of EICML, were present on the occasion, the release said.
Source : Thehindubusinessline