
During a State-level bankers’ committee meeting attended by high-ranking officials from various financial institutions, Maharashtra Deputy Chief Minister Devendra Fadnavis issued a stern warning to nationalised banks. He stated that if these banks insist on CIBIL scores from farmers applying for crop loans, they would face FIRs (First Information Reports).
Deputy Chief Minister Fadnavis emphasized that once FIRs are filed against the banks, they should not expect any government intervention or assistance. He made it clear that if banks continue to demand CIBIL scores from farmers, despite previous instructions to the contrary, necessary action would be taken to support the impoverished farmers.
The warning from the Deputy Chief Minister comes as a measure to safeguard the interests of farmers in Maharashtra. By discouraging the requirement of CIBIL scores for crop loans, the government aims to ensure that farmers have access to the financial support they need without unnecessary obstacles.
Now it is mandatory in all loan accounts to check the CIBIL especially in case of Agri because the farmer avails facility of KCC from different Banks on different agri land and get benefit of subvention in.multiple accounts, whereas the RBI has clear instructions that a farmer may avail kcc facility on various agri land from various Banks BUT THE SUBVENTION BENEFIT WILL BE GIVEN ONLY IN ONE KCC ACCOUNT UPTO RS THREE LAC ONLY.
THEREFORE, CIBIL IS MANDATORY
That is why he down to Dy CM from CM earlier. Next time he would be nowhere
Farmers are the backbone of the economy and country as well. Calling CIBIL for small crop loam is roadblock in getting financial assistance from Bank. Big industrial house make default and lac of crores is written of in a single account whereas the default from a farmers will be in thousands only and that too is compensated by Loan Mafi by State Govts. So cibil should not be asked by Banks to boose the agr. Products.
Retd Banker