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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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Food
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