January 30, 2023

Assam Chief Minister Himanta Biswa Sarma stated solely loans availed by the poor can be waived off.


Assam Chief Minister Himanta Biswa Sarma in the present day stated the state authorities will present one-time help to poor individuals who had availed loans underneath microfinance schemes and are at the moment repaying them.

He stated the federal government has determined to not fully waive the loans as that can have an effect on the CIBIL rating of the loanees and so they could discover it troublesome to get loans sooner or later.

Waiving of microfinance loans taken by girls was one of many guarantees made by the BJP forward of the Assembly elections in Assam this yr.

The authorities had been holding discussions with microfinance establishments that had stated the whole excellent loans amounted to Rs 12,500 crore.

Speaking to reporters in Guwahati in the present day, Mr Sarma stated that as per Microfinance Institutions Network (MFIN) pointers, one particular person can’t be supplied a mortgage of greater than Rs 1.25 lakh and there can’t be greater than three energetic loans.

“All loans above Rs 1.25 lakh has been brought down to the ceiling amount and the fourth loan has been waived off by the banks,” he stated, including that the whole excellent mortgage is now Rs 8,250 crore.

The Chief Minister stated solely loans availed by the poor can be waived off. He stated the loanees have been divided into three classes — immediate payers, those that have stopped paying after BJP that had promised to waive the loans got here to energy, and defaulters.

Mr Sarma stated the categorisation has been achieved eager about the CIBIL rating.

“If the government completely waives off the loans, it will make those loans non-performing assets that will impact the CIBIL scores of the loanees and they will not be able to apply for any loan. That’s why, without waiving off the loans, the government is providing financial assistance,” he stated.

While all loans will come all the way down to 1.25 lakh, immediate payees will obtain a sizeable quantity credited to their accounts in proportion to the sum they’re but to pay, stated the Chief Minister. He stated these whose funds are overdue will get an quantity to pay their overdues moreover the one-time aid. The defaulters’ loans can be waived off, Mr Sarma stated.

Out of the 22 lakh girls in Assam who’ve availed loans underneath microfinance schemes, about 5 lakh are immediate in repayments, the Chief Minister stated. 

He assured that henceforth, pointers of MFIN can be relevant in giving out loans and no brokers will harass girls who avail loans.

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