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Bengaluru, Mar 30: The nationwide lockdown has left the state on the brink of a fresh agrarian crisis.

The lack of transport facilities spells doom for ready-to-harvest grapes worth Rs 500-600 crore in Bengaluru Rural, Chikkaballapur and Kolar districts. Unable to find buyers, several farmers have begun dumping their produce into compost pits.

On Sunday, Munishamappa, a farmer in Chikkaballapur, emptied four truckloads of grapes into the pit as buyers didn’t turn up due to the lockdown. “If the grapes wither and fall to the ground, it will affect the soil’s fertility and I will be forced to dispose of them,” he said.

Venkata Krishnappa, Munishamappa’s son, said their 1.5-acre vineyard yielded 25 tonnes of grapes. “Just before the lockdown, 10 tonnes were harvested and delivered to the market. Due to lack of transport, buyers haven’t turned up for the remaining 15 tonnes which we are dumping into the pit.”

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Anjaneya Reddy, a farmer leader, said that in Chikkaballapur alone, they have cultivated grapes on 2,000 acres. “Even if you consider 15 tonnes per acre as yield, there are about 30,000 tonnes ready to be harvested in the district. At a market rate of Rs 50 to Rs 60 per kilogram, the net worth will be Rs 200 crore to Rs 300 crore. And if you consider the crop in Kolar and Bengaluru Rural, grapes worth Rs 500 to Rs 600 crore are at stake,” he explained.

The ‘Dilkush’ grapes is the most preferred variety of domestic consumption, according to the farmers.

This apart, farmers would have invested about Rs 3 lakh to 4 lakh per acre on fertilisers, pesticide and labour. “With markets being shut and no of the transport facilities available, farmers are forced to dump their produce into pits. It is high time the government intervened and provided us with market options so that farmers can sell at an affordable price of Rs 30 to 40,” Reddy said.

Somu, a farmer in Ganjam village of Srirangapattana, dumped two tonnes of chikku (sapota) citing market shutdown in Mandya. Reddy appealed to the government to emulate the Maharashtra model where the government is helping farmers market fruits through Hopcoms or dairy units as nutrient supplements to people.

New Delhi, May 29: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.2 crore on Karnataka Bank Limited for non-compliance of asset classification, divergence and provisioning norms.

"The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949. 

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," the central bank said in a statement on Thursday.

According to the central bank, the statutory inspection of the bank with reference to its financial position as on March 31, 2017, and as on March 31, 2018, and the Risk Assessment Reports (RAR) pertaining thereto revealed, inter-alia, non-compliance with the directions issued by RBI.

Earlier, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with the directions.

After considering the bank's reply to the notice, oral submissions made in the personal hearing and examination of additional submissions, RBI concluded that the charges of non-compliance with RBI directions warranted imposition of monetary penalty, according to a release.

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Mangaluru, May 29: The southwest monsoon is expected to reach the Karnataka coast on June 1 or 2, earlier than forecast by the India Meteorological Department (IMD).

Normally, Karnataka witnesses the onset of monsoon either five or six days after it had entered Kerala. However, this time, Karnataka will also witness the arrival of monsoon either on June 1 or June 2, according to meteorologists at the Karnataka State Natural Disaster Monitoring Cell (KSNDMC).

The gradual formation of two low-pressure areas over the Arabian Sea located close to the western peninsular coast and gaining momentum has helped Karnataka mark the start of the four-month-long rainy season expected to revive the back-to-back drought-stricken state.

Confirming the changes in the atmospheric pattern, Dr GS Srinivasa Reddy, Director KSNDMC said, “Karnataka will also witness the onset of monsoon on the same time that of Kerala.”

The early onset of monsoon over Karnataka coast is attributed to prevailing to weather pattern over the Arabian Sea. 

“The two low-pressure areas over the Arabian Sea are steadily gaining momentum. They may reach the peak by the weekend and may concentrate further into depression causing widespread rainfall in the peninsular region and thereby advancing the onset of monsoon over the region,” Dr Reddy explained.

The KSNDMC, based on the Indian Meteorological Department (IMD) forecast, stated that due to 'prevailing favourable conditions over the Indian Ocean and Pacific Ocean regions', the monsoon will be normal and above normal over coastal and south-interior Karnataka according to the present scenario.

The IMD, which had initially issued a forecast of five-day delay in the onset, had issued a fresh forecast on Wednesday cautioning the states along the West coast about the formation of two intense low-pressure areas in South-East and East-Central Arabian Sea region.

Following the forecast, a yellow alert has also been issued in Kerala and coastal areas suggesting significant rainfall starting from this weekend. “Fishermen have also been advised not to venture into deep-sea due to high turbulent conditions,” an IMD official revealed.