1. Maharashtra CM Devendra Fadnavis urges banks to disburse Rs 10,000 crop loan to all distressed farmers

Maharashtra CM Devendra Fadnavis urges banks to disburse Rs 10,000 crop loan to all distressed farmers

In a major relief for farmers, Maharashtra Chief Minister Devendra Fadnavis advised national, commercial and district central cooperative banks to commence disbursal of Rs 10,000 crop loan to distressed farmers from Thursday.

By: | New Delhi | Updated: June 22, 2017 11:37 AM

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The disbursement of Rs 10,000 crop loan will aid the farmers for Kharif season so that they can start with sowing at the earliest. (PTI)In a major relief for farmers, Maharashtra Chief Minister Devendra Fadnavis advised national, commercial and district central cooperative banks to commence disbursal of Rs 10,000 crop loan to distressed farmers from Thursday. CM Fadnavis at the state-level bankers’ meet said on Monday he had written to the Reserve Bank of India addressing Governor Urjit Patel to bring forward the conclusion of providing Rs 10,000 crop loan to debt ridden farmers. Fadnavis also asked for accelerating the entire process by directing the banks to make the procedure clear. The letter by Fadnavis also specified that in a day or two’s time every bank would get official instruction for the entire procedure.

The disbursement of Rs 10,000 crop loan will aid the farmers for Kharif season so that they can start with sowing at the earliest. It is estimated that 70 lakh farmers across Marathwada, Vidarbha and parts of north and western Maharashtra can benefit through the crop loan. According to Indian Express report, “The amount of Rs 10,000 should be credited to the bank accounts of all farmers who have taken crop loan in the past. It includes all debt-ridden farmers,” said Maharashtra Chief Minister Devendra Fadnavis. Chief Minister Devendra Fadnavis clearly mentioned of not entertaining any kind of delay in the process of disbursement. “The urgency with which the policy decision was taken should also reflect in its implementation. Otherwise, the stated objective to provide immediate relief to the needy and poor farmers would be defeated,” Fadnavis said as per a IE report.

According to the Indian Express report, “The state will ensure the amount with interest is repaid to the banks within the time limit,” Fadnavis said. He further mentioned that banks need to get trouble as in this case the government becomes the gurantor. “Maharashtra is a big state and mobilisation of resources to repay the loans disbursed by banks would be addressed without any delay,” said Fadnavis as per a IE report.

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To provide farmers with better facilities and avail the farm loan smoothly, the the state government in a span of one week revised the eligibility parameters. In addition of Rs 10,000 crop loan, the government has also declared waiver of outstanding loans up to Rs 1 lakh. Farmers including those owning tractors, with a a monthly income of Rs 20,000, can make use of the loan amount.

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