Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Thursday announced the definitive timeline for the implementation of the state government’s farm loan waiver scheme, officials said.
Addressing a press conference after the meetings to review the preparations for the Kharif season and State Level Bankers’ Committee, the Chief Minister declared that all eligible farmers will receive their loan waivers before June 30.
This timely implementation will clear the path for farmers to secure fresh credit for the upcoming agricultural season, he added.
The Chief Minister directed nationalised banks to strictly achieve at least 80 per cent of their designated agricultural loan distribution targets.
While the state government had previously announced the loan waiver scheme, the lack of a specific execution date had caused significant confusion among both farmers and banking institutions.
The Opposition had also capitalised on the delay to criticise the state administration.
Putting an end to the uncertainty, the Chief Minister made this major announcement to execute the waiver well before the crucial June 30 deadline.
Statistical data indicates that District Cooperative Banks and Rural banks currently account for 67 per cent of agricultural loans, whereas other nationalised banks account for 26 per cent.
Noting that nationalised banks frequently fall short of their agricultural credit goals, the Chief Minister emphasised that they must fulfil their 80 per cent distribution targets.
Chief Minister Fadnavis said that the state government has issued absolute directives to banking institutions prohibiting them from demanding CIBIL scores from farmers seeking crop loans.
“We have informed nationalised banks in very strict terms that no farmer should be inconvenienced by CIBIL requirements,” he added.
He said that banking headquarters must issue explicit notification letters to every local branch clarifying that CIBIL scores are not mandatory for crop loans.
Officials from the Reserve Bank of India (RBI) attended the meeting and confirmed this regulatory stance, ensuring that no farmer’s crop loan process will be obstructed.
According to the state cooperation department officer, the CIBIL Score is a three-digit number representing an individual’s creditworthiness.
It helps lenders understand how responsible you are with credit and your repayment behaviour. But how important is this three-digit score? This guide will break it down.
Acknowledging major climate risks, the Chief Minister noted that current Meteorological forecasts project only 88 per cent rainfall, with expectations of a declining precipitation trend.
This pattern is expected to increase moisture stress on crops.
The state has formulated comprehensive contingency plans based on these weather indicators, including accelerating the deployment of the ‘Jalyukt Shivar’ (water conservation) initiatives.
To assist the farming community, the state has launched the ‘Mahavistar’ mobile application.
The app utilises Artificial Intelligence (AI) to provide tailored insights on crop patterns and answer direct agricultural queries from farmers.
Additionally, the Maharashtra government is strictly monitoring the supply of fertilisers, which faces global manufacturing pressures this year.
“To prevent the illegal diversion of agricultural fertilisers to industrial sectors, the state administration will implement mandatory videography protocols,” Chief Minister Fadnavis said.
With the crucial Kharif sowing season rapidly approaching, farmers across Maharashtra had been demanding swift execution of the relief measures.
This decisive intervention by the Chief Minister regarding the loan waiver and simplified crop loan processes is expected to ease agrarian distress and streamline agricultural operations across Maharashtra.
(IANS)
