Provide Farm Loans Without Insisting on CIBIL Score – CM Devendra Fadnavis

CM Warns Banks Over Agricultural Loan Disbursement; Approves ₹44.76 Lakh Crore Credit Plan for 2025–26

Mumbai : If farmers are denied access to agricultural loans, it negatively impacts not only their livelihood but the economy at large. Therefore, banks must not insist on CIBIL scores for loan disbursement to farmers, Chief Minister Devendra Fadnavis said. He reminded that strict warnings have already been issued to banks regarding this matter, and FIRs have been registered against some branches for non-compliance. Even the Reserve Bank has clarified its stance on farm loans. If any branch still demands a CIBIL score, strict action will be taken, he warned. Fadnavis also instructed nationalized banks to make extra efforts to meet their targets for agricultural loan disbursement this year.

The 167th meeting of the State-Level Bankers’ Committee was held at the Sahyadri Guest House, where a credit plan worth ₹44.76 lakh crore for the financial year 2025–26 was approved.

Nationalized Banks Must Focus on Increasing Agricultural Loan Disbursement

Maharashtra is a leading state in the country, said CM Fadnavis, emphasizing that the farmer is the backbone of the state and agriculture is a crucial pillar of the economy. Ignoring this sector is not acceptable. Banks should therefore prioritize increased farm loan disbursal. With a good monsoon forecast by the Meteorological Department, banks should extend full cooperation to farmers. Good rainfall leads to robust agricultural growth, which benefits both farmers and banks. The government is implementing investment policies in agriculture, with a target of at least ₹5,000 crore investment annually. Banks have a vital role in this and should participate actively. Agricultural financing will no longer be just about assistance or rehabilitation—it will be treated as a business opportunity. Banks should encourage and honor those performing well under these schemes, while taking strict action against non-performers.

Focus on Tourism, Services, and Startups as Well

Fadnavis pointed out that Maharashtra has crossed the half-trillion-dollar mark in economy and is rapidly moving toward becoming a one-trillion-dollar economy. Banks play a critical role in achieving this goal. Maharashtra leads in Foreign Direct Investment (FDI), with ₹16 lakh crore secured through Davos. It is now also the startup capital of India, offering immense job creation opportunities. The state ranks first in MSMEs too. Banks and the government must work together to ensure that benefits of central and state MSME schemes reach the intended beneficiaries. Tourism and service sectors should also be given priority by banks, he added.

Align Bank Priorities with Government for Holistic Growth

CM Fadnavis emphasized that Maharashtra has a large number of Farmer Producer Organizations (FPOs) that can contribute significantly to agricultural development. He urged banks to focus more on districts like Gadchiroli, which is witnessing growing industrial activity. Aligning bank priorities with government policies will ensure comprehensive development. Banks also share the responsibility of implementing central and state government schemes, which is key to achieving financial inclusion, he said.

Achieve 100% Agricultural Loan Target – Deputy CM Eknath Shinde

Deputy Chief Minister Eknath Shinde said banks must take agricultural loan disbursement seriously and meet 100% of their targets. He urged them to extend special support to entrepreneurs, especially women. He also emphasized the need to expand loan coverage in the Mumbai Metropolitan Region, where there is immense development potential.

The meeting was attended by Chief Secretary Sujata Saunik, Additional Chief Secretary to the CM Vikas Kharge, Secretary Dr. Srikar Pardeshi, State-Level Bankers Committee Chairperson Aadesh Pandey, secretaries of various departments, senior officials, committee members, and representatives of various banks.