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CM urges banks to expand crop-loan lending to reach to more farmers

With the aim to reach out to more farmers, who hold small and marginal land, the Chief Minister Devendra Fadnavis urged national and commercial banks to evolve a mechanism to expand their crop-loan lending.

He said, “I must admit the numbers should be at least three times more in the coming years.” The CM was speaking during the annual kharif meeting.

“The RBI’s concern that banks cannot be coerced into giving loans is understandable. …banks are bound to be governed by norms of loan recovery. Yet, I believe national and commercial banks should reconsider loans to farmers beyond obligation or duty. The urgency to enhance loans to small farmers instead of concentrating on big and wealthy farmers needs to be adjusted through course corrections,” the CM said.

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