RBI sanctions Rs 43,526 crore CCL to Punjab for paddy purchase

RBI sanctions Rs 43,526 crore CCL to Punjab for paddy purchase

Reserve Bank of India (RBI). (File Photo: IANS)

Chandigarh, Nov 1 (IANS) The Reserve Bank of India has enhanced the cash credit limit (CCL) to Punjab for procurement of paddy during the ongoing kharif season to Rs 43,526.23 crore, Food abd Civil Supplies Minister Lal Chand Kataruchak said on Tuesday. He said the timely purchase, payment, and lifting is going on in each mandi. He said the minimum support price (MSP) payment of Rs 20,086 crore has been released directly in the bank accounts of farmers till Monday on completion of the first month of procurement season. Nearly 5.60 lakh farmers have been benefitted so far. He said the government is committed to purchase every single grain. Principal Secretary, Food and Civil Supplies Rahul Bhandari said all Deputy Commissioners have been asked to daily review and monitor procurement, lifting and payments operations. With the approval of the CCL, the payments will continue to be made seamlessly. He said lifting of nearly 6.5 to 7 lakh metric tons paddy is being done every day. A total of 110 lakh metric tons paddy has been procured so far and the entire process of procurement and lifting will be completed within a week.

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