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Rs 12,000 crore loan waiver scheme for women in Assam

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 From Sudip Sharma Chowdhury

GUWAHATI : In a bid to fulfil the poll promise, the Assam government on Tuesday signed an agreement with microfinance companies for a Rs 12,000 crore waiver scheme, which will benefit many lakhs of women borrowers. The Finance Department of the Government of Assam signed a Memorandum of Understanding (MoU) with Micro Finance Institutes (MFIs) for implementation of Assam Micro Finance Incentive and Relief Scheme (AMFIR), 2021. “A total of 38 MFIS and banks signed moUs with the State Government, which will remain in force till 31st March, 2023.

 Speaking on the occasion, Chief Minister Hemant Biswa Sarma said that till June this year, there were 14 lakh microfinance borrowers in the state and the new scheme will include a loan portfolio of Rs 12,000 crore, which will cost about Rs 7,200 crore of the state government.He said the scheme will help in financially helping low income poor families as well as ensuring continuity of microfinance. Sarma also said that the scheme will motivate customers to borrow responsibly and repay loans on time. Talking about the clauses in the MoU, Sarma said all borrowers would be provided relief for loans up to three lenders and only up to Rs 1.25 lakh. “Under this scheme, borrowers who are paying regularly with “zero day last reason” will be given incentive once to the extent of their outstanding balance, provided there is a limit of Rs 25,000.

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