With paddy procurement season in full swing, the State Bank of India has released the cash credit limit (CCL) for KMS 2018-19 of Rs. 29,695.40 crore as authorised by Reserve Bank of India and would start transfer of amount to accounts of arhtias/farmers from Monday onwards, a spokesperson of Food and Civil Supplies Department, Punjab said on Saturday.
The spokesperson said payment advices of Rs. 570.41 crore has been generated till date and would be transferred to the accounts of farmers/arhtias on Monday against the purchase of paddy.
The Government agencies and private millers have procured 691781 metric tonnes of Paddy in Punjab till October 12. Out of the total procurement so far from various procurement centres in the State, the Government agencies procured 665607 MT of paddy while 26174 MT has been procured by the millers.