"Interest Subvention on Working Capital" under the "Assam Tea Industries Special Incentives Scheme"

DETAILS The "Interest Subvention on Working Capital" component of "Assam Tea Industries Special Incentives Scheme (ATISIS)" by the Finance (Institutional Finance) Department, Government of Assam, aims to ensure long-term financial sustainability of the Tea industry and to incentivize manufacturers to move from Crush, Tear, Curl tea to Orthodox tea production. The component provides interest subvention on working capital loans at 3% per annum. The scheme is implemented by the Finance Department and the Industries & Commerce Department, Government of Assam, through multiple implementing agencies, including banks and the District Industries & Commerce Centre. The applications for this scheme are accepted online through a dedicated portal with a Direct Benefit Transfer mechanism for reimbursement. BENEFITS Benefit Amount: Interest subvention of 3% per annum on Working Capital Loan. Maximum Claimable Amount: ₹20,00,000/- per annum per unit (garden). Validity Period: Extended for five years till the end of the Financial Year 2027-28. Applicable Financial Years: 2023-24, 2024-25, 2025-26, 2026-27, and 2027-28. Disbursement Mode: Direct Benefit Transfer as reimbursement. Claim Period: On completion of every financial year. ELIGIBILITY General Eligibility The applicant must be a tea plantation across all sizes The applicant must be a tea manufacturing unit manufacturing Crush, Tear, Curl Tea, Orthodox Tea, or Speciality tea including Green tea, Oolong Tea, White tea, Yellow tea and Purple tea The applicant must be located entirely in Assam The applicant must not have any part of the plantation or manufacturing facility located outside the State of Assam  Interest Subvention Specific Eligibility The applicant must have taken loan from a Scheduled Commercial Bank or a Public Financial Institution. The applicant must have taken Working Capital Loan for activities directly related to plantation or manufacturing of Tea. The applicant must have Working Capital sanctioned or renewed on or after 1st April of the financial year in which claim is to be made (2023-24, 2024-25, 2025-26, 2026-27 and 2027-28). The applicant must not have loan accounts declared as Non-Performing Asset as per Reserve Bank of India guidelines on the date of filing claim. The applicant must not have availed any interest subsidy under any other scheme.