Tea planters seek RBI loan relief Losses during lockdown have been suffered at the time of the first and second flushes that command the highest prices

TT, 8.05.20, Siliguri: An association of tea planters based in the Terai has written to the Reserve Bank of India seeking waivers and modifications of loans and interests for the tea industry, citing the losses suffered during the lockdown.

Mahendra Prasad Bansal, the chairman of the Terai Indian Planters’ Association, has said in the letter addressed to the RBI governor that the tea industry needs assistance to emerge from the crisis, particularly because the losses have been suffered at the time of the first and second flushes that command the highest prices.

“We want a waiver of loans and interests and conversion of working capital loans to term loans with a repayment period of 15 years. There should also be a moratorium of two years on the repayment of such loans, which would immensely help the industry,” Bansal said.