The new interest rates and the effective date for Food operations are stated below:
– Food Corporation of India will have a revised monthly rest interest rate of 7.98% p.a starting from 01.03.2023, with a present rate of 7.87% p.a. from 01.02.2023 to 28.02.2023.
– State Governments and UT’s will have a revised monthly rest interest rate of 8.58% p.a starting from 01.03.2023, with a present rate of 8.47% p.a. from 01.02.2023 to 28.02.2023.
FOOD CORPORATION OF INDIA
16-20, BARAKHAMBA LANE
NEW DELHI – 11001
CIRCULAR NO. 1346 /ACCOUNTS
Reference is invited to Headquarters Circular No.1345/Accounts dated 31.01.2023 communicating revision of rate of interest on Bank borrowings for Food operations @7.87% p.a. w.e.f 01.02.2023 onwards. The State Bank of India, IFB, New Delhi vide letter No. IFB/FCI/2022-23/524 dated 28/Feb/2023 (Copy enclosed for ready reference) informed that there is a change in rate of interest for the March-2023 month.
Consequent upon above the revised rate of interest and effective date from which these rates shall be applicable for Food operations are as under:-
|Applicable to||Present Rate of Interest at
|Revised Rate of Interest at
|Food Corporation of
|7.87% p.a. from 01.02.2023 to
|7.98% p.a from 01.03.2023
|8.47 % p.a. from 01.02.2023 to
|8.58% p.a from 01.03.2023
The above rate of interest may please be got updated in the respective CC A/c of all Unit Offices at local level with SBI.
This is for information and necessary action. Please acknowledge the receipt.
Signed by Amit Jaswani
Date: 01-03.2023 16:07:29
Asstt. General Manager (Funds)