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Phase-I of MFI scheme to cost Rs 2,000 crore

Phase I of the Assam Micro Finance Incentives and Reliefs Scheme, 2021, will benefit 11 lakh women, costing around Rs 2,000 crore from the state exchequer.

Phase-I of MFI scheme to cost Rs 2,000 crore

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  27 Nov 2021 2:43 AM GMT

STAFF REPORTER

GUWAHATI: Phase I of the Assam Micro Finance Incentives and Reliefs Scheme, 2021, will benefit 11 lakh women, costing around Rs 2,000 crore from the state exchequer.

Chief Minister Himanta Biswa Sarma will launch phase I of the scheme at Tezpur in the Sonitpur district on November 28.

Sources in the State Finance department said that in this phase of the scheme, the Chief Minister would distribute cheques amounting to Rs 25,000 maximum to women who have been paying MFI and bank loans regularly.

It was one of the major poll promises of the BJP in the run-up to the last Assembly elections.

The department has categorized the MFI loanees into three categories. The first category comprises the women who have been repaying their loans regularly. The government will address the problems of the other loanees later.

The beneficiary women of the first phase are from across the state. The State Finance Department has already collected bank details of the women, the sources said.

The Assam Micro Finance Incentives and Reliefs Scheme is the first of its kind in the state.

The first Cabinet meeting of the new government decided to exempt the debt-trapped women from loans taken from MFIs and banks. The Cabinet also formed a committee with Minister Ashok Singhal as its chairman to devise a way to relieve the women from MFI and bank loans.

The State Government had signed an MoU (Memorandum of Understanding) with 38 MFIs and banks to implement the Assam Micro Finance Incentives and Reliefs Scheme.

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