Punjab News: In a significant move to support the ongoing paddy procurement season, the Reserve Bank of India (RBI) has approved a cash credit limit (CCL) of ₹41,339.81 crore for the state of Punjab. This credit limit will facilitate the smooth purchase of paddy crops by the state government, ensuring timely payments to farmers.
Punjab Chief Minister Bhagwant Mann shared the development via a tweet, emphasizing that the state’s markets are fully prepared to procure paddy. He assured that payments will be credited directly to farmers’ bank accounts as soon as their crops reach the market, reiterating the government’s commitment to eliminating delays and ensuring seamless transactions for farmers.
This decision aligns with the Punjab government’s focus on efficient procurement operations and the reduction of financial hardships faced by farmers during the marketing season.
RBI Supports Punjab’s Paddy Procurement with ₹41,339.81 Crore CCL
In a major boost to Punjab’s paddy procurement process, the Reserve Bank of India (RBI) has sanctioned a cash credit limit (CCL) of ₹41,339.81 crore. This financial aid aims to ensure a seamless paddy procurement operation across the state, allowing for immediate payment to farmers upon delivery of their crops to the mandi (market).
Chief Minister’s Assurance of Prompt Payments
Punjab Chief Minister Bhagwant Mann announced the development on social media, expressing his commitment to ending the hardships faced by farmers. He emphasized that all mandi systems are in place, and payments will be deposited directly into farmers’ bank accounts as soon as their produce is procured. This move comes as part of the government’s promise to streamline procurement and prevent delays in payment.
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