State Bank Of India

India largest banker, State Bank of India (SBI) has inked Memorandum of Understanding (MOU) to provide credit to small tea growers operating with Amalgamated Plantations Private (APPL), a Tata Enterprise. APPL has around 31,000 small tea growers which supply green leaf.

Tea sector in Assam is under pressure following increased cost of production. The industry is facing shortage of workers, absenteeism, change in distribution pattern of rainfall, low prices of tea, rise in input costs, impending wage hike, Plantation Labour Act (PLA) & minimum notified wages.