Complete loan waiver process by Feb: Govt tells bankshttps://indianexpress.com/article/cities/mumbai/complete-loan-waiver-process-by-feb-govt-tells-banks/

Complete loan waiver process by Feb: Govt tells banks

Total loan waiver sanctioned to 50 lakh farmers is Rs 23,000 crore. At present, Rs 17,500 crore have been disbursed to 41 lakh farmers across Maharashtra.

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Chief Minister Devendra Fadnavis has expressed disappointment over the slow pace of loan waiver disbursement by the national banks  (Source: File Photo)

The state government has issued directives to financial institutions to complete the entire process of providing loan waiver to farmers by February. While 82 per cent of the scheme has been implemented, 18 per cent of the farmers eligible for waiver are still awaiting money.

“Chief Minister Devendra Fadnavis has expressed disappointment over the slow pace of loan waiver disbursement by the national banks. The district cooperative banks have done better in completing the loan waiver process,” a source in the department of cooperation said.

Total loan waiver sanctioned to 50 lakh farmers is Rs 23,000 crore. At present, Rs 17,500 crore have been disbursed to 41 lakh farmers across Maharashtra.

A senior secretary in the information and technology department said, “The government is likely to convene a meeting this week to incorporate names of farmers in the scheme, who were skipped due to technicalities or delayed response. The number of such farmers across 355 talukas is expected to be within one lakh.”

“In a clear departure from the past loan waivers, Fadnavis government decided to credit the waiver amount directly into the bank accounts of the farmers… The three-tier verification method helped the government weed out ghost accounts and check corrupt practices,” the secretary added.

Loans up to Rs 1.5 lakh, irrespective of the farmer’s land holding, was cleared under the scheme, which was applicable to individual farmers.

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Apart from loan waiver, Rs 25,000 was also offered to farmers who repaid their loans in time. The number of farmers who availed the incentive scheme is 18 lakh.