RBI Extends And Revalidates CCL For Wheat Till May 31 In Punjab- Kairon
Author(s): City Air NewsChandigarh, May 4, 2016: The Reserve Bank of India today revalidated and extended the validity period of the authorization of Rs.17,523 crore as Cash Credit Limit (CCL) till May 31 for the wheat crop of the Rabi...
cityairnews
May 4, 2016 09:30
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Chandigarh, May 4, 2016: The Reserve Bank of India today revalidated and extended the validity period of the authorization of Rs.17,523 crore as Cash Credit Limit (CCL) till May 31 for the wheat crop of the Rabi 2016-17 season in the state.
Disclosing this here today, Food & Civil Supplies Minister Mr. Adaish Partap Singh Kairon said that this move would pave a way for the release of balance dues of the farmers, arthiyas and other stake holders.
It may be recalled that Rs.5938 cr. had already been released to the farmers, arthiyas during April and the remaining dues were being released as per the sanction.
Meanwhile, the Minister said that the State Procuring Agencies, FCI and Private Traders have procured 108.29 LMT wheat till date out of which 84.30 LMT wheat stands already lifted. As per Punjab Agriculture Produce Markets Act, the whole procurement has to be lifted within 72 hours of procurement. Going by this norm, the State agencies and FCI have lifted 78% of wheat till date.
