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Cabinet clears Rs 45000 cr loan to FCI from Small Savings Fund

  • by Psu Connect
  • Date: 19-01-17

NEW DELHI . The Union Cabinet on Wednesday approved a loan of Rs 45,000 crore to the FCI out of the National Small Savings Fund, as well as exempted most states and UTs from the mandatory investment norms for funds collected under the NSSF scheme. 
 
"The Union Cabinet has given its approval to exclude states/Union Territories (with legislature) except Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh from the National Small Savings Fund (NSSF) investments from April 1, 2016. 
 
"It also approved a one-time loan of Rs 45,000 crore from the NSSF to the Food Corporation of India (FCI) to meet its food subsidy requirements," a Finance Ministry release here said. Web India 123

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