Banks insisting on CIBIL score of farmers would face FIRs: Fadnavis
Mumbai: Maharashtra Deputy Chief Minister Devendra Fadnavis has said banks asking for CIBIL score from farmers before disbursing crop loans would face FIRs.
CIBIL score is a numeric summary of a person’s credit history. The score is derived using the credit history found in the CIBIL report.
Fadnavis told reporters in Amravati on Tuesday that a decision has already been taken by the state-level banking committee that the CIBIL score condition cannot be applied during crop loan disbursement.
The Reserve Bank has also issued a circular regarding the same,” Fadnavis told reporters in Amravati after holding a kharif season review meeting for the eastern region of Maharashtra.
He said if some banks are going to harass farmers unnecessarily, then the government will have no other option but to register an FIR against such banks.
He said some banks in Amravati have diverted the subsidy amount deposited into the bank accounts of farmers towards loan repayment.
Not all the banks have been doing it, but some banks in Amaravati are found indulging in such practices. I have given strict orders to the banks not to use subsidy amounts for loan recovery, Fadnavis said.