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CM Devendra Fadnavis appeals to farmers to repay current loans to maintain the banking system

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Mumbai: Chief Minister Devendra Fadnavis appealed farmers to repay loan to maintain the banking system. In his talk show, ‘Mi Mukhymantri Boltoy’ (CM is speaking), Fadnavis said that the banks are relying on repayment and farmers who repay regularly, will be given extra benefits of various government schemes in addition to the encouragement subsidy under the loan waiver scheme.

In a reply to the question whether loan would be available for sowing again asked by Manik Chaphekar, farmer from Nagpur, the chief minister said, “The banking system survives on those who regularly repay their debt. Many people expect that the loan waiver would be up to 2017. Hence they have not repaid loan in spite of their capacity to do so.” He added, “I request to such farmers to pay their loans regularly. The banking system is in place relying on them. Even Reserve Bank of India (RBI) would not allow changing the last date of the waiver, June 30, 2016.”

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According to state policy, farmers are provided loans at zero per cent rate of interest up to Rs1 lakh and two per cent up to Rs1 to 3 lakh. Fadnavis said that state is considering giving even more discounts. The CM added that those having financial turnover above Rs10 lakh have been excluded from the loan waiver scheme as they have some other source of income. “It has been decided that benefits of loan waiver will be given only to those who are 100 per cent dependant upon agriculture, he said.


The state has prepared a plan with the help of World Bank to be implemented especially in 15 districts of Vidarbha, Marathwada and North Maharashtra region. Fadnavis said that Rs 4000 crore would be invested in agriculture sector to increase productivity. Mi Mukhyamantri Boltoy is the production of Directorate General of Information and Public Relations.

According to Maharashtra state policy, farmers are provided loans at zero per cent rate of interest up to Rs1 lakh and two per cent up to Rs1 to 3 lakh. Fadnavis said that state is considering giving even more discounts.