Fertiliser Ministry Gets Rs 10k-Cr Under SBA

The Finance Ministry has granted Rs 10,000 crore to Fertiliser Ministry under special banking arrangement to provide the loan to cash-starved fertilizer companies at reasonable rates. "Before placing the Budget, the Finance Ministry...granted us Rs 10,000 crore under special banking arrangement (SBA). This has been sanctioned and a lot of problems will be mitigated," Fertiliser Minister Ananth Kumar said at a press conference.

The SBA, under which fertilizer companies can take loans against subsidy receivables, would help the industry meet its fund requirements until the time the cash subsidy is released by the Finance Ministry. Asked about the huge backlog of fertilizer subsidy, Kumar said that it has come down to Rs 20,000 crore from the level of Rs 40,000 crore in 2009.

For daily intraday tips and intraday calls click this link to get connect with us http://www.ripplesadvisory.com/nifty-future-.php  fill our Two Days Free Trial For more you can give us One missed call on this no. -9303093093