Corporation Bank signed an MoU with the Karnataka State Organic Farming Mission for the promotion of organic farming.
According to a press release, the MoU was signed in Bangalore in the presence of Chief Minister B S Yeddyurappa and Chairman and Managing Director of the Bank J M Garg by General Manager of the Bank K Rama Murthy and State Commissioner for Agriculture Dr C Somashekhar.
Promotion of organic farming will result in better earning for the farmers and it is good for the environment. To rope in such benefits, both the organisations have mutually agreed to have this MoU for assisting farmers, other individuals and entities to develop their activities in tune with the principles of organic farming and in an environmentally sustainable manner. The Bank is identifying the cause of organic farming as one of its prime areas of concern and associating itself with promotion of such causes supported by the state level empowered committee on organic farming in the state.
As per the agreement, Corporation Bank will be nominated as the preferred Bank by the Karnataka State Organic Farming Mission for financing farmers and other entities in taking up organic farming activities. The bank will assist the Mission in undertaking various developmental activities for promoting organic farming by setting up seed banks, marketing outlets, computer training centres, libraries and goshalas in all 176 taluks in the State.
As the operation of the Mission extends to the whole of the State of Karnataka, the units of the Mission shall use the bank for maintaining their current / savings bank accounts, for remittances of funds, issuance of cheques and DDs. The Bank shall offer them services on a preferential basis with no charges. Also, the bank in its lead districts will make special efforts to propagate the concept of organic farming.
