Please
refer to BPRD Circular No. 02 dated February 09, 2009
on the above subject.
In
this connection, the issue of final adjustment of loans/advances
against pledge of sugar stock (both raw and refined) has
been reviewed on the representation made by different
stake holders.
Banks/DFIs
are now advised to ensure adjustment of entire loans/advances
against pledge of sugar stock (both raw and refined) by
31st October, 2009 positively, starting with
25% reduction at end of July, 2009 and further reduction
of:
• 25% by end August, 2009
• 25% by end September, 2009
• 25% by end October, 2009
All
other instructions on the subject shall remain unchanged.
Please
acknowledge receipt.