Empowering Farmers Through Access: Maha Agri Machinery Rental Scheme (MARS) by Bank of Maharashtra

Farmers across India, especially small and marginal ones, face a common dilemma. They want to increase productivity and adopt modern practices, but mechanisation remains out of reach due to high equipment costs. This is where the Maha Agri Machinery Rental Scheme (MARS) from Bank of Maharashtra steps in as a game-changer.

Designed to bridge the gap between demand and affordability, MARS empowers farmers, rural youth, and cooperatives to access agricultural machinery without having to invest large amounts upfront. Here's everything you need to know about this scheme and how it is helping reshape the future of Indian agriculture.

Making Modern Farming Affordable and Accessible

Traditional farming methods can be labor-intensive, time-consuming, and inefficient. With increasing labour shortages and rising costs, machinery like tractors, tillers, and harvesters have become essential for timely agricultural operations. However, many small farmers can’t afford to purchase these machines.

MARS offers a practical solution. Under this scheme, Bank of Maharashtra enables farmers to rent high-cost agricultural machinery at affordable rates. It also supports entrepreneurs and farmer collectives to purchase machinery and offer rental services in their community—thus multiplying the benefits.

Who Can Benefit from MARS?

MARS is thoughtfully designed to benefit a wide range of stakeholders in the rural economy:

• Small and marginal farmers who need machinery only during certain seasons.
  
• Agri-entrepreneurs who wish to start a machinery rental business.
  
• Rural youth looking for sustainable self-employment options.
  
• Farmer Producer Organisations (FPOs), Joint Liability Groups (JLGs), Self Help Groups (SHGs), and Cooperatives interested in group ownership of equipment.
  

By targeting both users and providers of agricultural machinery, MARS boosts rural employment while enhancing farming efficiency.

Key Features of the MARS Scheme

The Bank of Maharashtra has made the scheme easy to understand and implement. Here’s what makes MARS particularly useful:

1. Equipment on Rent

Farmers can access expensive agricultural equipment such as:

• Tractors
  
• Power Tillers
  
• Seed Drills
  
• Harvesters
  
• Water Pumps
  
• Drilling Machines (for wells and borewells)
  

These are provided on a rental basis, eliminating the burden of large capital investments.

2. Machinery Purchase Financing

Agri-entrepreneurs or FPOs can apply for credit to purchase machinery. These machines can then be rented out to nearby farmers, creating a business opportunity while serving the community.

3. Affordable Interest and Repayment Options

BoM offers competitive interest rates, flexible repayment tenure (up to 7 years), and minimal paperwork. The bank’s rural and semi-urban branches provide dedicated assistance to process these applications smoothly.

4. Boost to Local Economy

MARS enables village-level service centres or entrepreneurs to earn income while helping others reduce costs and improve yields.

How to Apply for MARS

Applying for MARS or machinery financing is simple:

1. Visit the nearest Bank of Maharashtra branch.
   
2. Submit the required documents, such as:
   
   • Identity and address proof
     
   • Land records or business documents
     
   • Equipment requirement details
     
3. Choose between rental support or credit assistance.
   
4. BoM verifies and approves the application.
   
5. For credit-based applications, machinery is purchased and hypothecated to the bank until the loan is repaid.
   

In case of rental, the local service provider or cooperative handles the machinery while farmers pay on a use-based model.

Why MARS Matters Now More Than Ever

Mechanisation is no longer optional. With changing climate patterns, shrinking land holdings, and the need for multiple cropping, farmers must optimise every stage of farming.

MARS helps solve several pain points:

• It ensures timely field preparation and harvesting.
  
• Reduces dependency on manual labour.
  
• Saves cost compared to manual methods or outright purchase.
  
• Increases yield and efficiency.
  
• Supports entrepreneurship and employment in rural India.
  

By promoting shared use and rentals, MARS makes agricultural technology democratic and inclusive.

Frequently Asked Questions (FAQs)

1. Can individual farmers apply for MARS?

Yes, individual small and marginal farmers can apply for machinery rentals or seek financial assistance to acquire machinery under Bank of Maharashtra’s guidelines.

2. What type of machinery is covered under this scheme?

The scheme covers various types of machinery, including:

• Tractors
  
• Harvesters
  
• Seed drills
  
• Water pumps
  
• Borewell drilling rigs
  
• Power tillers and more
  

3. Is collateral required for loans under MARS?

For certain types of machinery loans, collateral like land or third-party guarantees may be required. However, for smaller ticket sizes and SHG/FPO-backed loans, requirements are relaxed.

4. Can SHGs or cooperatives apply as a group?

Yes. SHGs, FPOs, JLGs, and cooperatives can jointly apply for machinery loans and operate rental centres, benefiting multiple farmers in their area.

5. How is the rental amount decided?

Rental charges are usually fixed by the local rental provider (individual or FPO) and are based on machinery type, usage duration, and operational cost. Bank of Maharashtra facilitates these arrangements.

6. Is MARS only for Maharashtra farmers?

No. While the scheme was launched by Bank of Maharashtra, it is available across branches where agricultural banking services are provided—irrespective of the state, provided eligibility criteria are met.

Conclusion

Farming is becoming smarter, and MARS ensures that no farmer is left behind. Whether you're a smallholder looking for affordable mechanisation, a youth exploring agri-based income, or a cooperative aiming to build shared resources, Bank of Maharashtra’s Maha Agri Machinery Rental Scheme (MARS) offers a practical, well-supported way forward.

With easy access, transparent processes, and community-centric benefits, MARS is more than just a loan or rental scheme—it’s a step toward a resilient, modern and equitable rural economy.

To know more or apply for the scheme, visit your nearest Bank of Maharashtra branch or explore their official agri-loan portal.

Author: Bank of Maharashtra
Date of Publish: 11 Dec, 2025