MSC Bank has raised the pledged sugar valuation to Rs 4,200 per quintal. This development has come as a relief to sugar mills in Maharashtra, which can now easily pay the first instalment of Rs 4,500 to farmers, according to Raju Shetti, a prominent farmer leader.
- MSC Bank raises sugar valuation to Rs 4,200 per quintal.
- Millers can now easily pay the first instalment of Rs 4,500 to farmers.
- Relief to sugar mills in Maharashtra.
Context
**Raju Shetti**, a prominent farmer leader, has welcomed the move by MSC Bank to raise the sugar valuation. This decision is expected to bring relief to sugar mills in Maharashtra, which have been facing financial difficulties due to the low sugar prices.
According to **MSC Bank**, the decision to raise the sugar valuation was taken to support the sugar mills in the state. The bank has also assured that it will continue to provide support to the sugar mills in the form of loans and other facilities.
Response
"This is a welcome move by MSC Bank. The increased sugar valuation will enable the sugar mills to pay the first instalment of Rs 4,500 to farmers without any difficulties," said **Raju Shetti** in a statement.
"We appreciate the efforts of MSC Bank in supporting the sugar mills in Maharashtra. This decision will go a long way in ensuring that the sugar mills are able to pay the farmers on time," he added.
Forward Context
The decision by MSC Bank to raise the sugar valuation is expected to bring relief to sugar mills in Maharashtra. The mills can now easily pay the first instalment of Rs 4,500 to farmers, which will help in ensuring timely payment to the farmers.
The next step for the sugar mills will be to pay the remaining instalments to the farmers. The mills are expected to pay the remaining instalments by the end of the current financial year.