State news

Assam govt inks MOU with Microfinance Institutions for implementation of Assam Micro Finance Incentive & Relief Scheme 2021

With a view to provide succour to poor women borrowers who are not able to return the loan amount of Micro Finance Institutions (MFIs), the Assam government signed an MOU with Microfinance Institutions for implementation of Assam Micro Finance Incentive and Relief Scheme 2021 in Guwahati yesterday.

Altogether 38 MFIs and banks signed the MoU with the state government, which will remain in force till 31st March, 2023.

Speaking on the occasion, Chief Minister Himanta Biswa Sarma said that the Assam government in its first cabinet meeting formed a committee to fulfil its election promise of waiving micro-finance loan to provide succour to poor women who are not able to return the loan amount.

Stating that upto June, 2021 there were 14 lakh microfinance borrowers in the state, the Chief Minister informed that the new scheme would involve Rs. 12,000 crore credit portfolio, out of which Assam government would be required to expend around Rs. 7,200 crore.

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