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Saturday, July 31, 2021

Minister to banks: Disburse crop loans faster or will report you to Centre, RBI

While district central cooperative banks overall have fared better in crop loan disbursal, commercial banks are falling short, he added.

By: Express News Service | Mumbai |
Updated: July 9, 2021 7:42:44 am
The state government had sanctioned the target of Rs 60,800 crore crop loan for 69 lakh farmers in Maharashtra. (Representational Photo)

Expressing disappointment over the low crop loan disbursal to farmers by commercial and private banks, Cooperation and Marketing Minister Balasaheb Patil on Thursday threatened to send “poor performance report” of these banks to the Union government and the RBI.

“So far, only 50 per cent crop loan has been disbursed among farmers. Banks should speed up the process of handing over the remaining 50 per cent loan for the kharif season. If banks continue to delay disbursal, we will send a report to the Centre and the RBI,” Patil told mediapersons.

While district central cooperative banks overall have fared better in crop loan disbursal, commercial banks are falling short, he added.

The state government had sanctioned the target of Rs 60,800 crore crop loan for 69 lakh farmers in Maharashtra. “Almost 69 per cent agriculture land is covered under kharif season. Yet, banks have been able to disburse only 50 per cent crop loan to farmers, which is not acceptable. In this, commercial and private banks have fared worse than district cooperative banks,” said Patil.

The banks have been told to provide loans through online applications to avoid crowds amid the Covid-19 outbreak. Patil will hold the next review on crop loan disbursal end of July.

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