Please refer to our Circular No.46-48 /DoR 11-13 /2019 dated 06.03.2019, Circular No.53/DoR-14/2019 dated 07.03.2019 and Circular No.57-60/DoR-15-18/2019 dated 12.03.2019 on the captioned subject communicating the operational guidelines for extending Soft Loan to sugar mills.
In this connection, with reference to Para 2 of the operational guidelines we clarify that the mill-wise quantum of soft loan shall be determined by taking into account 10.55% of the value of reported production of white sugar in the sugar season 2017-18 and not 10.55% of 85% of the value of reported production.
Further, Para 3 of the operational guidelines may be replaced as under:
“The bank will consider loan application of only those sugar mills which have cleared latest by 26.03.2019 at least 25% of the cane price payable computed on FRP basis as on 28.02.2019 for current sugar season 2018-19.”
We request you to please arrange to circulate the above modifications among Controlling Offices / Branches.