Don’t seek CIBIL scores of farmers while granting loans: Maha CM Fadnavis to banks

MAHARASHTRA Chief Minister Devendra Fadnavis on Monday directed the banks to provide agricultural loans to farmers without insisting on providing CIBIL score (credit information).

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CIBIL score is a 3-digit numeric summary of one's credit history, rating and report, and ranges from 300 to 900. The closer one's score is to 900, the better his/her credit rating is. "If agricultural loans are not provided to farmers, its consequences will be in the form of farmer suicides along with the economy. Therefore, despite repeated warnings from farmers not to ask for CIBIL, banks are asking from the farmers. Please provide an immediate solution to this. Earlier, the government has also filed FIRs against such banks. You will have to take this issue seriously. The Reserve Bank has also given clarity regarding agricultural loans. If any bank branch is asking for CIBIL, the action will be taken against that branch,” Fadnavis said at the 167th meeting of t