Loan Waiver: CM Devendra Fadnavis warns banks about interest

The total amount credited is Rs 12,300 crore. Of the total 21.65 lakh farmers who benefited from the waiver, banks have uploaded information of 13.35 lakh accounts.

| Mumbai | Published: February 9, 2018 4:59:55 am

Chief Minister Devendra Fadnavis said on Thursday that banks should not charge interest rates on the loan waiver amount for farmers after July 31, 2017. The Maharashtra government had sanctioned the loan waiver to farmers on July 2017.

At a meeting convened with the State Level Bankers Committee to review the progress of the loan waiver to farmers and its enforcement, Fadnavis said, “We have issued clear directives to the financial institutions not to charge interest rates on the loan waiver to the farmers after July 31, 2017. Yet there are some anomalies which have come to our notice and they should be rectified.” He added, “If financial institutions fail to comply, they will invite action.”

Till date, loans have been credited in the accounts of 31.32 lakh farmers. The total amount credited is Rs 12,300 crore. Of the total 21.65 lakh farmers who benefited from the waiver, banks have uploaded information of 13.35 lakh accounts.

For all the latest Mumbai News, download Indian Express App

Share your thoughts
Advertisement
Advertisement
Advertisement
Adda
Advertisement