RBI EXTENDS CCL LIMIT FOR PUNJAB WHEAT PROCUREMENT TILL MAY 31
· SANCTIONED LIMIT ENHANCED TO Rs. 28,151.26 Cr UPTO END MAY, 2022
Chandigarh, 28 April 2022 : The Reserve Bank of India (RBI) on Thursday extended Cash Credit Limit (CCL) for Punjab up to May, 2022, for the ongoing wheat procurement season.
The Reserve Bank of India (RBI) has extended the Cash Credit Limit (CCL) of Rs.3378.15 crores, till the end of May, 2022. With this, the sanctioned limit of Rs. 24,773.11 crore for end April 2022 has been enhanced to Rs. 28,151.26 crores upto end of May, 2022, according to an official spokesperson.
The extension for procurement of wheat, under new account no. III during Rabi Marketing Season (RMS) 2022 is subject to only after Government of Punjab submits the Letter of Consent under Article 293(3) of the Constitution of India, obtained from Ministry of Finance, Government of India, and subject to outstanding balance under all the food credit accounts of State Government to be always backed by fully paid stock valued.
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