TheAssam government signed an MoU with 37 MFIs to provide financial relief to several lakh poor Women borrowers in the state to help them maintain good credit discipline in Covid times by expending over Rs 7,000 crore to the lenders.
The MoU will remain in force till March 31, 2023. In the last election, BJPs biggest promise was to these women borrowers that after coming to power, the government will waive off their dues to the MFIs.
Till June this year, there were 14 lakh women microfinance borrowers in the state of which about 11 lakh have either made regular repayments or whose payments are overdue, but are not marked asnon-performing assets(NPA). To these categories of borrowers, the government will pay a one-time incentive up to Rs 25,000 to incentivize such credit discipline.
The finance department of the Government of Assam signed an MOU with microfinance institutions for implementation of Assam Micro Finance Incentive and Relief Scheme (AMFIRS), 2021 to provide succour to poor women borrowers who are not able to return the loan amount of microfinance institutions.