FCI raises Rs 20k cr bank loan for working capital

Tags: News
Facing liquidity crunch, the Food Corporation of India (FCI) has raised short term loan of Rs 20,000 crore from around 20 banks to meet funding requirements for procurement and distribution of foodgrains.

State-run FCI had floated a tender on April 24 inviting bids for short term loan. The tender closed on April 30.

According to sources, FCI has raised Rs 20,000 crore short term loans to meet its working capital requirements.

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