Bengaluru, Jun 28 (PTI): Karnataka Deputy Chief Minister D K Shivakumar on Saturday claimed that banks were not cooperating with the Central government’s schemes aimed at supporting entrepreneurs, particularly those offering loans without guarantees or collateral.

Speaking at the inauguration of the Karnataka Small Scale Industries Association’s (KASSIA) Centre of Excellence and Innovation in Bengaluru, Shivakumar underlined the importance of giving the younger generation opportunities to grow.

"KASSIA will succeed only if it exerts more pressure on the government than the large industries," he remarked.

He criticised the banks for failing to support the Centre’s annoucements. "The Central government makes grand announcements like providing loans without guarantees or collateral, but banks do not comply. They prefer lending to those with a proven track record and are hesitant to support emerging entrepreneurs," the Deputy CM said.

He urged KASSIA office-bearers to actively work towards empowering the next generation, stating that fostering competition would naturally lead to improved quality. "Where there is competition, there is quality," he added.

Addressing concerns related to labour, Shivakumar said that industry representatives had recently apprised him of their challenges. "I have informed the Labour Minister that we will not allow any company to relocate out of Karnataka," he said.

He suggested that a delegation of four to five key representatives from the industry should meet Union Cabinet Ministers to voice their concerns, especially in light of potential shifts to Andhra Pradesh and Tamil Nadu.

Shivakumar also expressed disappointment that some political leaders fail to grasp the risk of firms relocating due to their narrow focus on the Information Technology and Biotechnology sectors, often overlooking other industries.

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Kolar: Tomato prices in Karnataka are likely to surge, with retail rates potentially touching Rs 85 per kg if heavy rains continue to batter Maharashtra and other northern states over the coming days, posing a fresh burden on households that rely on the staple ingredient.

On Sunday, a 15-kg crate of tomatoes at the Kolar APMC market, which is the second-biggest market in Asia, was sold for Rs 750, a sharp increase from Rs 250–Rs 350 just three days ago, The New Indian Express reported.

Traders have warned that if weather conditions do not improve by next week, retail prices of tomatoes would touch Rs 85 per kg in Karnataka.

Kiran, secretary of the APMC market, said that continuous rainfall in Maharashtra, a major tomato-producing state, has disrupted supply to states such as Uttar Pradesh, West Bengal, Haryana, and Tamil Nadu.

CMR Srinath, a tomato farmer and merchant at the APMC market, also added that heavy rain has affected the tomato crop in large areas of Maharashtra. “If showers continue in the neighbouring state for another week, the prices at the Kolar APMC market would touch Rs 1,000 to Rs 1,200 per crate,” TNIE quoted him as saying.

This disruption has significantly increased the demand for tomatoes from Karnataka, especially from the Kolar region.

“Over 200 vehicles carrying over 2,500 tonnes of the fruit left from the APMC market on Sunday to different destinations,” TNIE quoted Kiran as saying.

Despite the high demand, local supply remains limited, as many farmers in Kolar had reportedly avoided cultivating tomatoes due to poor prices over the last four months.