RBI authorises credit of Rs 17,523 crore for wheat procurement

CHANDIGARH: The Reserve Bank today issued authorisation of cash credit limit (CCL) of Rs 17,523 crore towards first installment for the procurement of 90 lakh tonnes of wheat this rabi season by the Punjab government.

The RBI would issue another authorisation for the second installment shortly, a release issued by the Chief Minister's Office said here this evening.

Punjab Chief Minister Parkash Singh Badal thanked Prime Minister Narendra Modi for his prompt personal intervention in the matter, the release said.

Badal, along with State's Food and Civil Supplies Minister Adesh Partap Singh Kairon, had called on Modi at New Delhi on Monday to urge him for the immediate clearance of CCL.