RBI has okayed cash credit for wheat procurement, payment expected any moment: Punjab govt | punjab | Hindustan Times
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RBI has okayed cash credit for wheat procurement, payment expected any moment: Punjab govt

A spokesperson said that following CM Capt Amarinder Singh’s personal meeting and subsequent telephonic conversations with Union finance minister Arun Jaitley, the CCL issue was resolved with the central government, which directed the RBI to release the payment.

punjab Updated: Apr 04, 2017 22:42 IST
HT Correspondent
RBI
(HT File Photo)

The Punjab government on Tuesday said that the Reserve Bank of India (RBI) had already cleared cash credit limit (CCL) for wheat procurement in the state, and that the payment is expected to reach the state’s coffers “latest by Wednesday”.

A spokesperson said that following CM Capt Amarinder Singh’s personal meeting and subsequent telephonic conversations with Union finance minister Arun Jaitley, the CCL issue was resolved with the central government, which directed the RBI to release the payment.

The spokesperson added that the CM spoke to Jaitley three times and there was no pending concern. “The state government had sent its team to complete the formalities expeditiously,” he said. The RBI holidays on April 1 and 2 had caused a slight delay but the funds were expected to come in “any moment now”.

He added that the state government has made all possible arrangements to ensure hassle-free procurement in the mandis.