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Maharashtra Chief Minister Devendra Fadnavis on Monday directed banks to give agricultural loans to farmers without insisting on CIBIL score. Fadnavis warned during the 167th State Level Bankers Committee (SLBC) meeting held at Sahyadri Guest House. He told the banks that if farmers do not get loans, it affects farming. Therefore, loans should be given to farmers without insisting on a CIBIL score.

Devendra Fadnavis said that if farmers do not get agricultural loans, it hurts the economy, and farmer suicides increase. We have repeatedly instructed banks not to ask for CIBIL (score), yet they continue to do so. This should be resolved in today's meeting. In the past, FIRs have been filed against such banks. This is a serious issue that banks should handle responsibly.

He said that the Reserve Bank of India has also clarified regarding agricultural loans that if any bank branch insists on CIBIL, action will be taken against it. The Chief Minister directed the nationalized banks to make special efforts to meet this year's loan disbursement targets and expand agricultural loan coverage. During the meeting, a loan scheme of Rs 44.76 lakh crore for Maharashtra for the financial year 2025-26 was approved.

Farmers are the backbone of the state.

Highlighting Maharashtra's leading position in the country, the Chief Minister said that farmers are the backbone of the state and agriculture is an important component of the economy. Therefore, nationalized banks should focus on increasing agricultural loan disbursement. With the weather department predicting good rains, the crop is expected to be good this year. In such a situation, banks should provide maximum assistance to farmers. Good rains boost agricultural growth, benefiting both banks and farmers.

He said the state is implementing an investment policy for agriculture, and banks should actively participate in it as they have a vital role to play. He said an annual investment target of Rs 5,000 crore has been set for the sector. Banks will benefit by giving more loans to farmers as agriculture is now seen not just as an ancillary sector but as a commercial enterprise. He stressed that lending institutions should contribute to this transformation.

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