Mumbai, June 25 (IANS) The Maharashtra State Level Bankers Committee (SLBC) meeting chaired by Chief Minister Eknath Shinde on Tuesday proposed an annual credit plan of Rs 41,00,286 crore for 2024-25 against Rs 33,90,601 crore, which is 20.93 per cent higher than the previous year.
Of the total Rs 41,00,286 crore, the priority sector lending is proposed at Rs 6,78,541 crore.
The thrust areas other than agriculture, including MSME, housing and education covered in priority sector is at Rs 5,05,186 crore.
Amid strong objection by farmers, Shinde directed that the banks should not make the CIBIL Score condition mandatory while granting crop loans.
The CIBIL Score works as a first impression for the lender. The higher the score, the better the chances of the loan being reviewed and approved.
During 2023-24, of the total annual credit plan of Rs 33,90,601 crore, the state’s achievement was of the order of Rs 38,70,381 crore which is almost 114 per cent.
The overall achievement under priority areas was Rs 6,40,295 crore which is 98 per cent of the target of Rs 6,51,401 crore.
For the agriculture sector, the banks have provided credit worth Rs 1,54,120 crore against the target of Rs 1,68,481 crore in 2023-24.
Shinde said that the state government stands firmly behind the farmers as agriculture is the backbone of the state economy. Banks should support farmers in times of trouble, and they should be more liberal in providing crop loans to small and marginal farmers.
“If the banks do not provide financial support to the farmers during the crisis, they have to raise money through other sources. This is why they resort to extreme steps like suicide,” he added.
Shinde said that it was decided at the meeting that priority should be given to the strengthening of district central cooperative banks and primary agricultural credit societies in the state.
“Banks should make efforts to strengthen these institutions for farmers. Urban cooperative banks, agricultural credit institutions, and district banks should be assisted by nationalised banks. Maharashtra has huge potential,” he added.
–IANS
sj/pgh
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
