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Special Banking Arrangement for payment of outstanding subsidy to fertilizer companies during 2014-15

Dated:- 14-10-2015 - The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi, today has given its ex-post facto approval for a Special Banking Arrangement (SBA) for a loan of ₹ 7000 crore with the consortium of Public Sector Banks led by State Bank of India (SBI) and Punjab National Bank (PNB) for settlement of outstanding indigenous urea subsidy bills of fertilizer companies in 2014-15. This has already been implemented/operationalized to overcome the li .....

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