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Devendra Fadnavis moots penalty on lenders failing to meet crop-loan target

The crop-loan target for FY19 was Rs 58,324 crore for Maharashtra

Devendra Fadnavis

Devendra Fadnavis

Abhijit Lele Mumbai
Maharashtra Chief Minister Devendra Fadnavis has mooted an idea to impose penalty on banks for failing to meet lending targets of farm loans, especially crop loans, in the state that is reeling from agriculture distress.

He rubbished claims by banks that they could not meet crop-loan targets due to draught conditions. “There are widespread complaints from farmers about problems in getting money (loans),” Fadnavis said while addressing State Level Bankers’ Com­mittee (SLBC), Maharashtra.

The crop-loan target for FY19 was Rs 58,324 crore for Maharashtra, but actual disbursements were at Rs 31,231 crore. So the lenders met 54 per cent of crop-loan target

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First Published: May 30 2019 | 1:04 AM IST

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