Mumbai: Chief Minister Devendra Fadnavis has warned the Board of Directors of the District Central Cooperative (DCC) banks of legal action if they reject or deny interim loans of Rs. 10,000 each to farmers. Fadnavis also took review bankers at the State Level Bankers Committee (SLBC) meeting at Sahyadri on Wednesday evening.

Fadnavis assured the bankers that the state government will take guarantee of the interim loan amount and the banks will be reimbursed with interest on the principle amount once the banks produce all related documents before the government.

“The financial position of the state is very good and the banks need not worry about the loans they have to disburse,” Fadnavis told officials of the banks during the meeting.

Meanwhile, a senior BJP minister claimed that the cooperative banks were not cooperating with the state for distribution of the Rs. 10,000 loans to the farmers. He said the chief minister has warned them that if the banks do not support the government’s initiative in favour of the farmers, the state may dissolve the elected Board of Directors of the banks.