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Cabinet approves Food Cash Credit to Punjab for food procurement operations - Resolution for the settlement of Legacy Accounts (upto crop season 2014-15)

News and Press Release - Dated:- 7-3-2017 - The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval for settlement of Legacy Food Cash Credit Accounts (upto crop season 2014-15) of Punjab Government for .....

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d credit in the larger interest of numerous farmers of the State and uninterrupted continuity in food procurement operations to ensure food security for the nation. Settlement of outstanding Cash Credit Limits (CCL) account by availing term loan by t .....

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operations by the Punjab Government shall be settled as under: a) The outstanding amount in Cash Credit Accounts of Government of Punjab pertaining to season upto Kharif Marketing Season 2014-15 amounting to approx. ₹ 31,000 crore shall be conv .....

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e loan shall be the outstanding amount as on 31.03.2015, which is not secured by stocks of food grains. The consortium of banks led by SBI has to finalise the amount in consultation with all stakeholders including Department of Food & Public Dist .....

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Product (GSDP). The above term loan proposed to be extended to Punjab Government in current financial year 2016-17 will not be counted in the fiscal deficit limit of Punjab Government in 2016-17. d) After the conversion of legacy accounts in long ter .....

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