RBI extends CCL limit for Punjab for wheat procurement up to May 31

The RBI has allowed extension of CCL limit to Rs. 3378.15 crores for Punjab for wheat procurement up to May 31

: The Reserve Bank of India on Thursday extended the Cash Credit Limit (CCL) for Punjab up to May 31 for the ongoing wheat procurement season.

The central bank has allowed extension of Rs. 3378.15 crores. With this, the sanctioned limit of Rs. 24,773.11 crore for the end of April 2022 has been enhanced to Rs. 28,151.26 crores, an official spokesperson of the government said.

Ahead of the rabi procurement season, the state has made arrangements to procure 135 lakh tonnes of wheat and has sought a CCL of Rs. 29,560 crores. However, it fell way short of that as the procurement has been 95.8 lakh tonnes so far, out of which 5.2 lakh tonnes has been procured by the private traders.

However, the centre is still to allow relaxation for the shrivelled grain found in the freshly harvested wheat crop this season more than the permissible limits of 6%.

After the state government raised an alarm, the Centre has sent teams of scientists who had submitted report to the Centre’s ministry of food and public that due to delay in relaxation, one-third of the total grain procured is still stocked in the mandis waiting to be taken to storage points.

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