Banks to lend RS. 1,86,620 crores to Maharashtra State this year

Bank of Maharashtra, Convener of the State Level Bankers' Committee for Maharashtra State, convened 127th meeting of SLBC. Shri Devendra ji Fadnavis, Hon'ble Chief Minister of Maharashtra, had kindly consented to be the Chief Guest for the meeting. The meeting was attended by Minister for Agriculture, Shri Eknath Khadse, Minister for Finance & Planning, Shri Sudhir Mungantiwar, Minister of State for Home (Rural), Agriculture & Horticulture, Shri Ram Shinde, Additional Chief Secretaries, Principal Secretaries for Admin, O & M, Finance, Agriculture, Cooperation and Commissioner, Cooperation among other officials. Executive Directors / General Managers of member Banks, senior executives of Reserve Bank of India, NABARD and other member Banks also attended the meeting.

The Chairman of SLBC and Chairman & M.D. of Bank of Maharashtra, Shri Sushil Muhnot while welcoming the dignitaries initiated the discussions and informed the house that focus of the discussions during the meeting would be on finalization of State Annual Credit Plan (ACP) 2015-16 including Crop Loan Disbursenments. He hoped that at Rs. 1,86,620 /- core for Priority Sector, the State Annual Credit Plan for 2015-16 would also be at the first rank in the country as earlier years. He informed that for 2015-16, the target for disbursement under Agriculture was set at Rs. 66,748/- crore of which Crop Loans constituted Rs. 44,319/- crore and Investment loans constituted Rs.22,429/- crore. He informed the house that despite various natural calamities faced by the State during the past many seasons, the achievement of the State under ACP 2014-15 was 89% of the target for total Priority Sector and that for Agriculture was 93% of the target; achievement under other priority sector being 88% of the target. He appealed all member banks to give necessary relief to all the farmers affected due to natural calamities before 30.6.2015 and to report the position of the relief given to SLBC immediately. He felt that the various relief measures for the farmers were of temporary nature and the effective debt burden on the farmers was not getting reduced. He appealed the State Government to arrive at some permanent solution so that the farmer community could be successfully pulled out of the debt trap. He felt that there was a need for Natural Calamity Fund with the help of which interest burden of the farmers could be eased.

Shri Eknath Khadse, Minister for Agriculture opined that there are various issues pertaining to the farmers, the State Government and the bankers that need to be addressed on a priority basis. He stressed the need for making timely finance available to the farmer community. He felt that, as the condition of many of the District Central Cooperative Banks was weak, the finance to farmers who up till now were catered by the DCCBs must be undertaken by other banks.

Shri Sudhir Mungantiwar, Minister for Finance & Planning, in his review of accounts opened under Pradhan Mantri Jan Dhan Yojana, emphasized to ensure that Maharashtra should be a totally banked State and no household should be without having a bank account. He observed that the stressed districts having more farmer suicides must be concentrated upon when allotting targets and monitoring achievements under Annual Credit Plans. He informed the house that many Gram Panchayats were being upgraded by the Government to Nagar Panchayats and appealed the Banks to increase their branch network accordingly. He appealed the bankers to finance small industries so that more employment could be generated and to follow best practices of other States in this regard.

The Chief Minister while delivering key note address expressed his concern over the present circumstances wherein up till now, only a few farmers stand benefitted form reschedulement / rephasement of loans and disbursement of new loans. He expected that the benefit must pass on to the farmers in the drought hit areas immediately. He also felt that the achievement as on 15.06.2015 by banks under crop loan disbursement was very low and all concerned must strive hard to make timely credit available to the farmers particularly when the monsoon season has started off well. He felt the need for sensitizing the field level bankers for handling all cases in a very sensitive and proactive manner. He advised all the bankers to use the present opportunity as a good business opportunity as the crop would be good and so would be the returns. He was of the firm opinion that good agricultural returns were sure to fuel good demand in the overall economy and good growth prospects thereafter. He appealed all concerned to take on this big challenge together by going in for long term future planning.

Dr. P.S. Meena, Additional Chief Secretary, Admin, O &M, Government of Maharashtra summed up the proceedings.

Shri V.U. Mhaske, Dy. General Manager, Bank of Maharashtra proposed vote of thanks.

Source : Equity Bulls

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