State awaits RBI nod for paddy CCL

Chandigarh, September 26

Just four days are left for the start of paddy procurement, but the state government is still awaiting the Reserve Bank of India’s (RBI’s) nod for the cash credit limit (CCL) of Rs 26,089 crore.

Around 150 lakh metric tonnes of paddy is expected to arrive in the state’s grain markets this year.

During wheat procurement, the RBI had released the CCL of Rs 17,523 crore three weeks after the procurement began, leading to delayed payment to thousands of farmers.

“We are expecting the RBI’s sanction in the next 2-3 days,” said a senior officer of the Department of Food and Civil Supplies.

Expecting around 10 per cent increase in paddy arrivals, the state has sought the sanctioning of Rs 26,089 crore, about Rs 3,000 higher compared to the last season. — TNS