Maharashtra government releases funds under second phase of farm loan waiver scheme; banks begin crediting eligible farmers’ loan accounts
Nanded (Economy India): As many as 51,330 farmers in Maharashtra’s Nanded district will benefit from a farm loan waiver worth ₹381.94 crore under the second phase of the state government’s agricultural loan waiver scheme, officials said on Thursday.
The funds have been released under the Punyashlok Ahilyadevi Holkar Shetkari Karjmukti Yojana, providing financial relief to eligible farmers across the district.
₹381.94 Crore Released for Farmers
According to officials, the Maharashtra government has released ₹381,94,67,038, or approximately ₹381.94 crore, for the beneficiaries covered under the second phase of the scheme.
The amount has been transferred to the concerned banks in Nanded district for implementation of the loan waiver.
Banks have now started the process of crediting the eligible loan waiver amounts to the respective farmers’ loan accounts.
Relief for More Than 51,000 Farmers
The latest phase is expected to provide significant financial relief to 51,330 farmers in Nanded.
For farmers facing financial pressure due to agricultural costs, weather-related uncertainties and fluctuating farm incomes, the loan waiver can help reduce outstanding debt and improve their financial position.
The scheme is part of the Maharashtra government’s broader efforts to provide support to the farming community.
Banks Begin Credit Process
The Nanded district administration said banks have begun processing the loan waiver amount and crediting it to the accounts linked to eligible farmers’ loans.
The transfer of funds to banks marks an important step toward completing the second phase of the scheme at the beneficiary level.
Farmers covered under the scheme are expected to receive the benefit directly through the banking system.
| Particular | Details |
|---|---|
| District | Nanded, Maharashtra |
| Farmers Benefited | 51,330 |
| Loan Waiver Amount | ₹381.94 crore |
| Exact Amount Released | ₹381,94,67,038 |
| Scheme | Punyashlok Ahilyadevi Holkar Shetkari Karjmukti Yojana |
| Phase | Second Phase |
| Status | Funds transferred to concerned banks |
| Next Step | Banks crediting eligible loan accounts |
Potential Impact on Rural Economy
Farm loan waivers can provide immediate financial relief to indebted farmers by reducing their outstanding liabilities. The additional financial space can also support spending on agricultural inputs and household needs.
For Nanded, the release of nearly ₹382 crore could provide a substantial boost to rural liquidity and benefit the local agricultural economy.
(Economy India)
