All
Banks / DFIs,
Dear
Sirs,
PROCUREMENT
OF WHEAT- MARGIN RESTRICTIONS THEREOF
Please find enclosed a copy of our Circular No. 12 dated
May 10, 2004 in terms of which the banks have been advised:-
a) To impose a cash margin of 50% on fresh disbursements to
be made by them to private sector for procurement of wheat
with immediate effect, and
b)
To ensure that the advances provided/to be provided by them
for procurement of wheat by private sector are adjusted
in full latest by 30th September 2004.
It
is hereby clarified that the aforementioned instructions
are also applicable to DFIs while providing finance to the
private sector for procurement of wheat.
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