Global Economy

Himanta Biswa Sarma launches Assam Micro Finance Incentive and Relief Scheme 2021


Assam chief minister Himanta Biswa Sarma launched the ambitious Assam Micro Finance Incentive and Relief Scheme 2021 to incentive those making regular payment of microfinance loans.

The Chief Minister ceremonially distributed cheques to 5 beneficiaries in the programme.

The scheme would benefit a total of 24 lakh women beneficiaries in the State while 59,468 women would receive reliefs amounting from Rs.16,000-Rs.25,000 in Sonitpur district.

The Chief Minister inaugurated the first phase of the scheme for those borrowers who have been repaying regularly. They will be provided one-time incentive upto Rs.25,000/- or outstanding balance, whichever is less. This is an incentive for them to continue maintaining good credit discipline. Total 11 lakh women would benefit during this phase of the scheme.

In the month of November, beneficiaries of 8 districts namely – Sonitpur, Charaideo, Sivasagar, Jorhat, Majuli, Golaghat, West Karbi Anglong and Dima Hasao will be provided their due incentives through account payee cheques.

In the second phase, relief would be provided to borrowers whose payments are overdue by 1-89 days and for accounts which are overdue but not NPA. The State Government will pay the overdue amounts. In the third phase, borrowers who are stressed, destitute and whose accounts have become NPA will be covered. Government will consider providing partial or full relief based on evaluation.

Sarma said that the state government has been able to fulfill its election promise of microfinance loan relief within six months and the state government will continue to march forward with the same zeal in the future as well.

He also announced that the commitment of providing one lakh jobs would also be fulfilled before May 10 next year. He said that every poor household in the state would be brought under the ambit of Orunoday scheme.



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