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To achieve these objectives, the Corporation
undertakes Procurement, storage, movement and
distribution of Central Pool stocks on a massive
scale. The North Zone procures almost more than
95% of wheat and about 50% of rice under levy
as well as CMR of stocks procured by the Corporation
as a whole. To carry out these gigantic operations
a large amount of capital is required.
Provision of Funds:
The Reserve Bank of India
has sanctioned a cash credit limit to the Corporation
duly backed by stock cover and guarantee from
Government of India through the consortium of
Nationalized and other banks under the leadership
of State Bank of India. The North zone has been
allocated a revolving cash credit limit of Rs.250
Crores from State Bank of India, notional cash
credit limit of Rs.135 Crores from State Bank
of Patiala and Rs.4 Crores from State Bank of
Bikaner and Jaipur. For further allocation to
unit offices during peak season of procurement
the cash credit limit with State Bank of India
is enhanced up to Rs.350 Crores as per estimated
requirement. Zonal office further allocates revolving
cash credit limits to the bank accounts field
offices in North Zone opened with State Bank of
India for withdrawals. The Regional Offices of
Punjab and Haryana maintain and allocate Cash
Credit Limits to the bank accounts opened with
the State Bank of Patiala in Punjab and Haryana
respectively and Regional Office Jaipur maintains
and allocates the Cash Credit limits to the bank
accounts opened with the State Bank of Bikaner
and Jaipur in Rajasthan Region.
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Financials
