Staff Correspondent

50 per cent people in North Karnataka are unable to access banking services

HAVERI: Rural Development and Panchayati Raj Minister C.M. Udasi has called upon villagers to utilise the facilities extended to them by the regional rural banks.

He was speaking after inaugurating the 392nd branch of Karnataka Vikas Grameen Bank at Tilavalli in Hangal taluk of Haveri district on Thursday.

With the objective of preventing exploitation of farmers by private money lenders regional rural banks have been set up.

Adequate loans for farmers are being sanctioned at lowest interest rates at these banks, he said.

The concept of lending, which was there prior to the nationalisation of banks has undergone a drastic change. Apart from agriculture and industry, loans are being extended to village industries and for the purpose of higher education, he said.

Loan facility misused

However the Minister regretted that the loan facility is being misused.

"Don't buy cattle for the sake of getting a loan. Take a loan only when you need to buy cattle," he advised farmers.

Banking services

Presiding over the function, chairman of Karnataka Vikas Grameen Bank, M. Dhananjaya said a minimum of 50 per cent people in North Karnataka were outside the purview of banking services and the bank would make efforts to bring them under the purview of banking services in the days to come.

Girish Kulkarni welcomed the gathering. I.C. Kubusad proposed a vote of thanks.

The Tilavalli branch of the bank collected a deposit of Rs. 75 lakhs on the day of its inauguration.