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Himanta Biswa Sarma led Assam govt completes 100 days in office: MoU on Micro Finance tomorrow

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It has announced a sum of Rs 25,000 for each regular client as an incentive to them to continue maintaining good credit discipline.
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Himanta Biswa Sarma led Assam govt completes Micro Finance tomorrow
Assam CM Himanta Biswa Sarma | twitter

Himanta Biswa Sarma led Assam govt completes 100 days in office: MoU on Micro Finance tomorrow

Himanta Biswa Sarma led Assam govt completes 100 days in office: MoU on Micro Finance tomorrow

Guwahati: As Assam government completed 100 days under the leadership of chief minister Himanta Biswa Sarma, the state government has announced that it would sign a memorandum of understanding (MoU) with the banks on Saturday to waive off micro finance loans.

“As promised during the assembly polls, MoU will be signed tomorrow in a bid to waive off micro finance loans,” Sarma announced in a presser on Friday.

He said that already the Reserve Bank of India (RBI) has approved the state government’s memorandum.

Earlier, the state government announced a special one-time relief to micro finance loan borrowers in the state under 3 broad categories.

It has announced a sum of Rs 25,000 for each regular client as an incentive to them to continue maintaining good credit discipline.

For those borrowers who are overdue or have turned into NPA (non-performing asset), the state government will pay the amount which is overdue to make them regular with institutions and their credit bureau records.

Besides, for those categories of customers who were stressed and impacted by the Covid pandemic leading to a loss of livelihood, the state government would pay the lenders to clear the outstanding loan. Assam, which has been experiencing stress in collection efficiency in microfinance loan portfolio since September 2019, is likely to come back to “normalcy” by the end of this financial year

Read More : Assam aims for emission free transport: Electric -CNG buses to replace

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