Nabard sanctions `1,500 crore for Punjab

doesn’t happen this year.

“If the IPL takes place, we won’t have to go in for pay cuts. We’ll manage things,” added Ganguly. Suggestions were also made to host the IPL behind closed doors with no spectators in the ground.

Reacting on the same, Ganguly said, the attraction will be less.

CHANDIGARH: The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 1,500 crore for Punjab to ensure continuous credit flow to farmers, through state cooperative banks, amid the COVID-19 pandemic.

This is part of National Bank for Agriculture and Rural Development’s Rs 25,000 crore nationwide special liquidity facility (SLF), which has been made available to state cooperative banks, regional rural banks, and microfinance institutions (MFIS), to ensure flow of credit to farmers for agricultural operations during Coronavirus pandemic, a release said.

Gangul also hinted that the board might have to go on a paycut if the IPL doesn’t happen this year

MUMBAI: Liquidity infusion of Rs 90,000 crore in ailing discoms through PFC and REC by government is a temporary arrangement and might put further pressure on state governments which are fighting the pandemic, experts said.

As part of the Rs 20 lakh crore stimulus package announced by Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman has been spelling out various measures for different sectors to help them amid the cornavirus pandemic.

According to the relief package, the sanction of loans to discoms is linked to reforms in state power sector such as promotion of digital payments from consumers, liquidation of outstanding dues from state governments and plan to reduce operational and financial losses by discoms. Currently, the outstanding dues of discoms towards power generating and transmission companies is to the extent of Rs 94,000 crore, which is expected to come down through the relief package. “From discoms’ perspective, this liquidity relief scheme through loans would increase their overall interest cost, with impact of 9 paise per unit sold at all India level,” ICRA Ratings Group Head Sabyasachi Majumdar said.

“However, the extent of impact would be higher for discoms in states like Andhra Pradesh, Karnataka, Jharkhand, Rajasthan, Telangana, Tamil Nadu and Uttar Pradesh, which account for more than 80 per cent of the overdues to power generating companies,” he added.