microfinance institutions: Assam launches the second phase of the aid scheme for microfinance institutions

microfinance institutions: Assam launches the second phase of the aid scheme for microfinance institutions

Under Phase-II of Assam Micro Finance Institutions Relief Scheme, a total of 12,590 will receive their cheques in Biswanath district. During this phase of the scheme, those borrowers who have been repaying regularly would be benefitted.

Assam Chief Minister Himanta Biswa Sarma handed over cheques to 5,024 beneficiaries of Gohpur, Behali, Sootea and Biswanath at a programme held at Biswanath.

Highlights

  • Urging beneficiaries to use these incentives judiciously so that their CIBIL Scores improve & they become eligible for more loans in future, The Chief Minister said the microfinance institutions should also make the loan applicants aware about the repayment conditions.

  • They will be provided a one-time incentive of 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.

He also informed that a new portal will be opened from next month where those women beneficiaries who have not been able to repay their microfinance loans at all, would be able to register themselves and State Government will help them to repay their loans.