MUMBAI: Following reports of banks mandating CIBIL scores of farmers to release the agriculture credit, Maharashtra Chief Minister Devendra Fadnavis on Monday reprimanded the national banks concerned and directed them not to ask for CIBIL scores. If any bank is found flouting the order, strict action will be taken against it.
Fadnavis stated that a credit provision plan of `44 .76 lakh crore for the year 2025-26 has been made for the farmers. “If agricultural credit is denied to them, its consequences will be felt not only on the economy but also the farmers. Therefore, do not ask farmers for CIBIL scores. Banks have been given a strict warning in this regard earlier too.”
Earlier, FIRs were also filed against banks for such errant conduct. The RBI has also clarified agricultural loans, said the CM during the 167th meeting of the State Level Bankers Committee that was held at Sahyadri Guest House in Mumbai. He further said that if any bank branch asks for CIBIL scores, then action will be taken against that particular branch.
“The nationalised banks should make special efforts to increase agricultural credit provision and meet the target given this year,” Fadnavis added.
The Meteorological Department has predicted good rains this year. Against this backdrop, banks should cooperate more with farmers. When there is good rain, the agricultural growth rate is good. Banks should also take advantage of this and give it to farmers,” the chief minister said.
Fadnavis said an investment policy is currently being implemented in the agricultural sector. “The role of banks is important in it and they should participate in this investment. The new opportunities will now be available for investment in this sector. Therefore, banks should provide maximum credit to farmers. It will only benefit the banks.”