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SBI to finance small tea growers in NE

Posted On February 22, 2015 at 12:47 pm by / Comments Off on SBI to finance small tea growers in NE

State Bank of India (SBI) will provide finance totalling Rs. 100 crore benefiting 3,000 small tea growers in the North East region soon, a senior official of the public sector bank said today.

Finance will be provided to tea growers who have proper basic documents of their existing garden as per Tea Board of India norms, SBI Eastern Range Circle Chief General Manager, Sanjay Kumar Magoo said here.

The finance will be for all sections of small growers to establish mini-bought tea leaf factories and buying vehicles for transporting green leaves, Magoo said.

“All our branches in the tea growing areas of the region will start their survey within a stipulated time. For the first slot we are taking a target of Rs. 100 crore to at least 3,000 small tea growers”, he said.

“The benefit is not only for Assam, but also for new tea garden growing states such as Arunachal Pradesh, Nagaland and Meghalaya which will also be covered under a similar scheme”, he said.

“We are aware that Assam small tea growers play a pivotal role in easing the unemployment problem and boosting the state’s economy. That is why SBI is helping the small tea sector, the CGM added.

In deference to Prime Minister Narendra Modi’s initiative to develop the region, to make it ‘organic’ and a tourist destination, the SBI NE Circle has planned to help the north east youths to undertake projects related to the tourism industry.

As an example Sikkim has already taken the front seat in the tourism sector, he said, adding that Assam, Meghalaya, Nagaland and Arunachal could be equally attractive places both naturally and geographically for visitors.