Free Press Journal

CM seeks revival of licences of 3 district banks in Vidarbha


Mumbai: Maharashtra Chief Minister Prithviraj Chavan today said the state’s agricultural credit plan this year was higher at Rs 3 lakh crore and asked the RBI to revive licences of three district cooperative banks in Vidarbha.

Chavan, who addressed a meeting of bankers here, sought cooperation for the implementation of credit plan. He said that despite the natural disasters in the past few years, drip and micro irrigation had helped the state improve the agricultural growth.

The Rs 3-lakh crore agriculture credit plan marks an increase of Rs 12,000 crore over the last year.

The RBI had cancelled licences of Nagpur, Wardha and Buldhana district co-operative banks while those at Solapur, Beed and Osmanabad were facing problems, Chavan said, adding that these made it difficult for farmers to avail crop loans.

The Chief Minister requested the RBI officials to revive the licenses of the three banks as the government was ready to pay it Rs 320 crore. “NABARD should increase minimum interest crop loan and convert short term loans into long term loans,” he added.

“Central government gives subsidies on construction of cold storages and godowns. Banks should take benefit of this and provide farmers with long term loans,” he added.