Chandigarh, June 10 -- Punjab governor and UT administrator Gulab Chand Kataria on Tuesday approved the proposal of the State Agricultural Marketing Board, UT Chandigarh, to abolish the requirement of furnishing a bank guarantee and cash security by applicants seeking licences under Section 10 of the Punjab Agricultural Produce Market Act, 1961.

The move is seen as a significant reform aimed at promoting ease of doing business and facilitating agricultural trade, and is likely to benefit traders, commission agents, processors, exporters, aggregators, and other businesses seeking licences to operate in agricultural markets in Chandigarh.

Pursuant to this approval, the Board has carried out amendments in Rule 17 and Rule 21 of the Punjab ...