Nationalised banks in Maharashtra lag behind their crop loan targets, says Kishor Tiwari

PUNE: The nationalised banks in Maharashtra have disbursed only 10% crop loans as against 40% of their targeted amount by May 31, said Kishor Tiwari, head, Late Vasantrao Naik Sheti Swavalanmban Mission.

"Earlier, the total share of the District Co-operative Banks in the total crop loan disbursement used to be 70%, which has now been brought down to 30%. The share of the nationalised banks has gone up to 65%. However, this year, the nationalised banks share had been raised to 70%, of which, at least 40% should have been distributed by May 10. So far, they have distributed only 10% of their share," said Tiwari, while speaking at a review meeting of the agriculture department.

He said that if farmers resort to suicides for not getting loans by May 31, the banks would be held responsible for it. "The banks have been instructed not to deduct the crop loan amount from the crop insurance compensation that the farmers get. Yet, some banks do it and they may face action," said Tiwari.