Maharashtra's Punyashlok Ahilyadevi Holkar Loan Waiver Scheme

Punyashlok Ahilyadevi Holkar Loan Waiver Scheme Begins First Phase of Direct Benefit Transfer Across the State

The Maharashtra government is set to begin transferring farm loan waiver benefits worth ₹13,336 crore to 16.96 lakh eligible farmers within the next two days under the Punyashlok Ahilyadevi Holkar Farmer Loan Waiver Scheme. The financial assistance will be deposited directly into beneficiaries' bank accounts, marking the first phase of the state's large-scale debt relief initiative.

Cooperation Minister Babasaheb Patil announced that the first installment will reach eligible farmers soon, while a second list of beneficiaries will be released after the completion of the initial disbursement process.

₹13,336 Crore to Be Deposited Directly Into Farmers' Bank Accounts

The state government has finalized the first batch of beneficiaries after completing a detailed verification process. Out of the applications reviewed, 16.96 lakh farmers qualified for the scheme and will receive direct financial assistance.

Officials confirmed that another round of beneficiary approvals will follow after the first phase is successfully completed, allowing more eligible farmers to receive the benefit.

Verification Process Identifies Eligible Beneficiaries

During scrutiny, around 1.40 lakh applicants were found ineligible under the scheme.

According to the minister, approximately 94,000 applicants were identified as income tax payers based on verification carried out with the Central Board of Direct Taxes (CBDT). Another 46,000 applications were rejected due to technical or administrative issues that did not meet the scheme's eligibility requirements.

Loan Waiver Covers Crop Loans Taken Between 2019 and 2025

The scheme provides relief for short-term crop loans taken between April 1, 2019, and March 31, 2025.

Eligible loans include overdue crop loans that remained outstanding up to September 30, 2025, and March 31, 2026, depending on the applicable conditions. Initially, the government prepared a database of nearly 32 lakh farmers using records collected from district central cooperative banks, commercial banks, and rural banks.

Over 11 Lakh Farmers Complete Aadhaar Verification

Among the approved beneficiaries, 7.03 lakh farmers are linked to district central cooperative banks, while 9.93 lakh farmers hold accounts with commercial and nationalized banks.

So far, 11.46 lakh farmers have completed Aadhaar-based identity verification through nearly 32,000 Aaple Sarkar Seva Kendras operating across Maharashtra. The government has encouraged the remaining eligible beneficiaries to complete the verification process as early as possible.

Farmers Advised to Complete Banking Formalities

The Cooperation Department has urged eligible farmers to complete Aadhaar authentication, ensure Aadhaar is linked to their bank accounts, and finish all pending documentation to avoid delays in receiving the loan waiver amount.

Beneficiary lists have already been displayed at Gram Panchayat offices, Primary Agricultural Credit Societies (PACS), and participating bank branches. Banks have also uploaded beneficiary information to the MahaIT portal to streamline the payment process.

Government Directs Banks to Support Farmers

The minister stated that banks have been instructed not to charge interest on eligible loan accounts from April 1, 2026, until the waiver process is completed.

He also revealed that nearly 13 lakh farmer records, which had earlier been returned to banks for corrections, are expected to be processed soon after the necessary updates are completed.

Scheme Aims to Improve Rural Financial Stability

The Maharashtra government said the loan waiver initiative is designed to provide immediate financial relief while strengthening the long-term economic stability of farming families. The program also seeks to encourage responsible loan repayment and improve the overall health of the rural economy.

Officials further noted that, except for the State Bank of India and Union Bank of India, participating nationalized and rural banks have accepted the state's proposed settlement formula for non-performing asset (NPA) accounts under the scheme, helping accelerate implementation.