Assam Chief Minister Himanta Biswa Sarma on September 23 said that at least 2.2 lakh women borrowers who could not repay their microfinance loans will get relief under the state government’s initiative.
Assam Government Shells Out Rs 291 Crore To Benefit 2.2 Lakh Loan Borrowers
CM Sarma made the announcement at an event to waive off the loans of women borrowers from different microfinance companies.
“A section of the media claimed that we have backtracked on our earlier poll promises. I want to make it clear that we have been fulfilling all our promises. Those loans which had become non-performing as on March 31, 2021 will get reliefs,” CM Sarma said.
The government is shelling out a total of Rs 291 crore as compensation to the lenders (microfinance institutions), and this move is expected to benefit a total of around 2.2 lakh borrowers from across the state.
The concerned microfinance institutions shall issue ‘no due certificate’ to the borrowers in return, thus making the latter credit-worthy again under the formal financial system.
