₹1,000-cr. loan to ensure prompt payment to farmers for Rabi paddy procurement
According to an official release issued by A.P. MARKFED Managing Director S. Dilli Rao, a loan of ₹1,000 crore will be transferred to the Andhra Pradesh State Civil Supplies Corporation within the next three days.
To facilitate this, a G.O. dated July 4 was issued, authorising AP MARKFED to secure the ₹1,000 crore loan from the National Cooperative Development Corporation (NCDC), backed by a State government guarantee.
Mr. Dilli Rao said that AP MARKFED had already submitted the formal loan proposal to the NCDC, and the funds were expected to be released shortly. Once the amount is received, it will be transferred in full to the Civil Supplies Corporation to ensure immediate disbursal of payments to farmers.
The initiative reflects the government's commitment to supporting the farming community and upholding its promise of timely procurement and payment during the Rabi marketing season.
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