From Bhupen Goswami
GUWAHATI : The Assam government has passed a bill on the day of the three-day winter session of the Assam Assembly to protect economically weaker groups and individuals from undue hardships due to unreasonable interest rates. Interest rates of micro-finance institutions and funds This step has been taken by the Government of Assam to protect the people suffering from tremendous means of recovery by the Government. An Act titled “Assam MicroFinance Institutions (Regulation of Money Laundering) Act, 2020 was tried to be passed by Assam Finance Minister Himanta Biswa Sarma. It proposed to provide more loans to micro finance agencies and organizations to cover the economically weaker sections of the society. It has also been passed by all the assembly members.
Talking about the Act, Assam Finance Minister Himanta Biswa Sarma has said that women have to compromise their existence for non-payment of loans. Referring to the fact and truth that the women of Assam had suffered, Finance Minister Sharma has said that many women had to compromise their personality when they failed to repay the loan from microfinance institutions (MFIs) in the state. Finance Minister Himanta Vishwa Sarma said that poor women borrow money from MFIs at a very high rate and the state Government does not have any mechanism to stop them as they are governed by the RBI guidelines. Sarma said, “Many women came to me and said that many other women compromised their personality under the pressure of not repaying the loans taken from microfinance institutions. I hope it is not true.”
According to an estimate, these MFIs have given a loan of about Rs. 12, 000 crore to the poor people in Assam to assess the ability of most of them to repay their loans without any debt. Sarma has expressed strong objection to the suggestions made by the Reserve Bank of India (RBI) on a bill that protects economically weaker groups and individuals from high interest rates and punitive measures of MFIs or lending agencies. He said, “the RBI wrote to me yesterday to consult him before passing the bill. He has also suggested some changes. Where does the RBI come from in this view? It is the prerogative of the House. If I put that letter in the house, the RBI will have to face the privilege motion. “The minister said he would write to the RBI governor in this regard. The Assembly has unanimously passed the Assam Microfinance Institute (Regulation of Credit) Bill, 2020. After the Act was passed, the Finance Minister has thanked all the MLAs by santosh prakash. And where is the responsibility of all the MLAs to save poverty women and people? All the MLAs of the Legislative Assembly fulfilled this duty today. Where is the finance minister that the government will never forgive the atrocities on economically weaker women?
