Devendra Fadnavis okays Rs 4.24 lakh crore annual credit plan

Maharashtra Chief Minister Devendra Fadnavis on May 29 approved Rs 4.24 lakh crore annual credit plan for the year 2019-20.

The approval was given during the 143rd State Level Bankers' Committee (SLBC) meeting, which was attended by state ministers Chandrakant Patil, Deepak Kesarkar, senior central and state officials, RBI officials and bankers.

A statement from the Chief Minister's Office (CMO) said that Fadnavis approved the annual credit plan of Rs 4,24,029 crore for the year 2019-20, which includes annual credit plan for agriculture of Rs 87,322 crore.

Fadnavis appealed to all the banks to achieve this target and give maximum loans to farmers.

"This mechanism is aimed at bringing our farmers into the institutional credit system and empowering them though financial inclusion. This forum is not commercial," he said.

"Crop loans are to save farmers from private borrowing. We need to understand socio-economic aspect. Agriculture is the most important aspect of our economy and contributor in the GDP," Fadnavis said.

Bankers need to make agriculture their priority and take it till the ground level, he added.

Under the Pradhan Mantri Jan Dhan Yojana, total 2.49 crore accounts were opened in Maharashtra till March 31, 2019, of which 1.22 crore accounts are from rural areas, the statement said.

Around 11.22 lakh subscribers registered themselves under the Atal Pension Yojana, about 40.22 lakh under Pradhan Mantri Jeevan Jyoti Bima Yojana and 97 lakh under Pradhan Mantri Suraksha Beema Yojana, it added.