https://www.taxtmi.com/news?id=17544 Outstanding unsecured Cash Credit balances of Punjab upto 2014-15 will be converted into a term loan repayable in half-yearly instalments over twenty years with prepayment option; the exact unsecured amount as on 31.03.2015 will be finalised by the SBI-led bank consortium in consultation with Department of Food & Public Distribution, Punjab Government and RBI. Loan terms will follow RBI and bank prescriptions. The loan will be excluded from the State's fiscal deficit limit for the award period year, bonds may be issued to repay the loan subject to approvals, and a tripartite agreement will authorise deduction from the State's central tax share to meet any defaults. en-us Tue, 07 Mar 2017 10:17:07 +0530 Tue, 07 Mar 2017 10:17:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17544 Outstanding unsecured Cash Credit balances of Punjab upto 2014-15 will be converted into a term loan repayable in half-yearly instalments over twenty years with prepayment option; the exact unsecured amount as on 31.03.2015 will be finalised by the SBI-led bank consortium in consultation with Department of Food & Public Distribution, Punjab Government and RBI. Loan terms will follow RBI and bank prescriptions. The loan will be excluded from the State's fiscal deficit limit for the award period year, bonds may be issued to repay the loan subject to approvals, and a tripartite agreement will authorise deduction from the State's central tax share to meet any defaults. News - Tue, 07 Mar 2017 10:17:07 +0530 https://www.taxtmi.com/news?id=17544