Devendra Fadnavis warns of action if banks don't disburse Rs 10,000 loan

Mumbai: Maharashtra Chief Minister Devendra Fadnavis today warned that boards of directors of district central cooperative (DCC) banks would face action if they denied interim loan of Rs 10,000 to farmers.

He was speaking at a meeting of State Level Bankers Committee (SLBC) here.

The CM assured bankers that the government will guarantee this interim loan and reimburse it with interest once banks produced documents.

"Financial position of the state is sound and banks do not need to worry about their loans," an official quoted Fadnavis as saying.

A senior minister from BJP claimed that DCC banks were not cooperating in disbursal of Rs 10,000 loan to distressed farmers.

Fadnavis stated that if these banks didn't cooperate, the government might even dissolve their boards, said the official.