RBI approves Rs 24,773 cr limit for Punjab for rabi season : The Tribune India

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RBI approves Rs 24,773 cr limit for Punjab for rabi season

RBI approves Rs 24,773 cr limit for Punjab for rabi season

Photo for representation only. File photo

Tribune News Service

Chandigarh, March 28

The Reserve Bank of India (RBI) on Monday cleared a sum of Rs 24,773.11 crore towards cash credit limit (CCL) up to April-end for the procurement of wheat in Punjab during the ensuing rabi marketing season.

Chief Minister Bhagwant Mann expressed gratitude to the Centre for timely release of the CCL, which would go a long way in ensuring seamless procurement of wheat. With this, the bulk of the CCL sought by the state government for the purchase of 132 lakh tonnes of wheat for the season has been released by the central bank.

Mann directed the Food and Civil Supplies Department to ensure smooth and hassle-free procurement of wheat, besides timely payment to farmers from the first day of procurement.

The procurement of wheat will start from April 1 and culminate on May 31. The Union Government has fixed the minimum support price of wheat at Rs 2,015 per quintal, hiking it by Rs 40 compared to last year’s rate of Rs 1,975.

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