dinathanthi newspaper 13/11/2016

With the government fixing the cash withdrawal limit from banks at `10,000, tea factories in the Nilgiris are in a fix. Shortage of cash has made it difficult for them to pay green tea leaf suppliers, mostly small farmers, their weekly dues. The labourers working in the tea factories are also left without cash.

There are around 145 bought tea leaf factories, besides 15 cooperative tea factories, across the Nilgiris district. Almost 60,000 families of tea leaf farmers depend on these factories.

B Manohar, a bought leaf factory owner, said, “We have around 100 suppliers of green tea leaves to our factory . We require at least `5 lakh to settle the weekly payments among the suppliers and the labourers. With the cap on cash withdrawals in the banks, we could not help postponing the payments to next week.“

Tea auctions at the Coonoor centre are being carried out on Thursdays and Fridays. “Tea auctions are conducted online. But cash withdrawal is the problem, given the situation,“ said Manohar.

dinathanthi newspaper 13/11/2016 :   http://www.dinathanthiepaper.in/firstpage.aspx