Karnataka Bank, a leading private sector bank, has entered into a Memorandum of Understanding (MOU) with VST Tillers Tractors for financing farmers for purchase of Tractors, Tillers and Farm Machineries. The finance will be extended under Krishik Sarathi scheme of the Bank.
VST Tillers Tractors has nominated Karnataka Bank as a preferred financier for extending finance to farmers for purchase of Tractors, Tillers and Farm equipments. The Company will offer special discount to the farmers who will purchase the tractor and other equipments under this MOU with Karnataka Bank.
The bank posted a rise of 20.51% in its net profit at Rs 81.21 crore for the quarter ended March 31, 2014 as compared to Rs 67.39 crore for the same quarter in the previous year. Total income of the bank increased by 7.54% at Rs 1172.58 crore for quarter under review as compared to Rs 1090.32 crore for the quarter ended March 31, 2013.
