IIPM Mumbai Campus
Banking on farms: Mr. S. Sridhar, Competence Development Facilitator, ING Vysya Bank Ltd, delivering the BL Club lecture at the Indian Institute of Plantation Management (IIPM).
Indian agriculture is undergoing rapid transformation and low volume agriculture is giving way to high-value agri-business.
Indian banks are increasingly focusing across the supply chain and hence, youngsters, whether they become part of the banking system or just remain as customers, will be partnering the growth of the country, explained Mr S. Sridhar, Competence Development Facilitator, ING Vysya Bank Ltd.
Delivering the Business Line Club lecture on “Role of banking in agricultural sector” sponsored by Syndicate Bank for the students of Indian Institute of Plantation Management (IIPM), he remarked that banks must churn out products to meet the needs of various components of the supply chain and that would be the simplest approach to address various challenges faced by banks at present in agriculture lending.
Milestones
Speaking about some of the milestones reached by Indian agriculture sector, he said that the sharp rise in foodgrain production during India's Green Revolution of the 1960s enabled the country to achieve self-sufficiency in foodgrains and stave off the threat of famine.
“Till late 50s, India was a starving nation and we were asking international agencies for food aid. However, the Green Revolution changed all that. This was followed by the White Revolution (milk) and the Pink Revolution (onions).
“Agricultural intensification in the 70s to 80s saw a decline in food prices and reduced rural poverty. However, for financial institutions, agriculture sector was not a priority sector and they were giving loans when farmers never needed it. All this changed when in 1982, NABARD was set up to facilitate credit flow for promotion and development of agriculture,” he said.
Mr Sridhar provided information to students on some of the special products launched by banks in the past including the Kisan Credit Card (KCC) which proved to be “game changers.”
He further said that KCC provided adequate and timely support to the farmers for their short-term credit needs for cultivation of crops.
“A host of positive changes are powering the agriculture growth and there will be a significant growth in non-urban credit and hence, be part of this growth story,” Mr Sridhar added.
‘SyndYuva' and ‘SyndVidya', the two products of Syndicate Bank for the youth, were introduced to the students. Dr V. G. Dhanakumar, Director, IIPM, welcomed the gathering and introduced the guests.
Dr S. John Mano Raj, Chairperson (post-graduate programme), was present.
Banking on farms: Mr. S. Sridhar, Competence Development Facilitator, ING Vysya Bank Ltd, delivering the BL Club lecture at the Indian Institute of Plantation Management (IIPM).
Indian agriculture is undergoing rapid transformation and low volume agriculture is giving way to high-value agri-business.
Indian banks are increasingly focusing across the supply chain and hence, youngsters, whether they become part of the banking system or just remain as customers, will be partnering the growth of the country, explained Mr S. Sridhar, Competence Development Facilitator, ING Vysya Bank Ltd.
Delivering the Business Line Club lecture on “Role of banking in agricultural sector” sponsored by Syndicate Bank for the students of Indian Institute of Plantation Management (IIPM), he remarked that banks must churn out products to meet the needs of various components of the supply chain and that would be the simplest approach to address various challenges faced by banks at present in agriculture lending.
Milestones
Speaking about some of the milestones reached by Indian agriculture sector, he said that the sharp rise in foodgrain production during India's Green Revolution of the 1960s enabled the country to achieve self-sufficiency in foodgrains and stave off the threat of famine.
“Till late 50s, India was a starving nation and we were asking international agencies for food aid. However, the Green Revolution changed all that. This was followed by the White Revolution (milk) and the Pink Revolution (onions).
“Agricultural intensification in the 70s to 80s saw a decline in food prices and reduced rural poverty. However, for financial institutions, agriculture sector was not a priority sector and they were giving loans when farmers never needed it. All this changed when in 1982, NABARD was set up to facilitate credit flow for promotion and development of agriculture,” he said.
Mr Sridhar provided information to students on some of the special products launched by banks in the past including the Kisan Credit Card (KCC) which proved to be “game changers.”
He further said that KCC provided adequate and timely support to the farmers for their short-term credit needs for cultivation of crops.
“A host of positive changes are powering the agriculture growth and there will be a significant growth in non-urban credit and hence, be part of this growth story,” Mr Sridhar added.
‘SyndYuva' and ‘SyndVidya', the two products of Syndicate Bank for the youth, were introduced to the students. Dr V. G. Dhanakumar, Director, IIPM, welcomed the gathering and introduced the guests.
Dr S. John Mano Raj, Chairperson (post-graduate programme), was present.
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