<p>Addressing media persons soon after assuming the posy of CMD, he said that Karnataka bank has been able to give only 10.73 pc of its net advances for agricultural purposes in the last fiscal year, which is way below the RBI bench mark. The central government while waiving the farmers’ loans, do not consider the private sector banks. So these banks are forced to charge higher interest from the farmers, due to which they do not approach private sector banks for loans, Bhat explained.</p>
<p>Addressing media persons soon after assuming the posy of CMD, he said that Karnataka bank has been able to give only 10.73 pc of its net advances for agricultural purposes in the last fiscal year, which is way below the RBI bench mark. The central government while waiving the farmers’ loans, do not consider the private sector banks. So these banks are forced to charge higher interest from the farmers, due to which they do not approach private sector banks for loans, Bhat explained.</p>
