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Bids has been invited by the Food Corporation of India (FCI) from scheduled banks to raise short term loan of Rs 20,000 crore for one month period.
The FCI has said in the tender document that to meet out its short term fund requirement for procurement and distribution of food grains, the Corporation is considering raising short term loans from the scheduled Banks only for one month tenure.
It further said that “FCI intends to raise short-term loan of Rs 20,000 crore with greenshoe option (the borrowing through STL will not exceed Rs 30,000 crore at any point of time) from scheduled banks for one month maturity.”
