Assam govt signs MoU with MFIs to waive micro finance loans

Guwahati, August 24: 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 Finance Department
of the Government of Assam signed an MOU with Microfinance Institutions for
implementation of Assam Micro Finance Incentive and Relief Scheme (AMFIRS), 2021in the
presence of Chief Minister Dr Himanta Biswa Sarma at a programme held at Assam
Administrative Staff College in Guwahati today.

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

Amongst the prominent MFIs and Banks that signed the MoU include Microfinance
Institutions Network, North East Small Finance Bank, Association of Small Finance Bank of
India, Nightingale Finvest Private Limited, Grameen Development and Finance Pvt. Ltd.,
North East Micro Finance Association, Bandhan Bank Ltd, Arohan Financial Services Ltd,
HDFC Bank Ltd, Fusion Microfinance Pvt Ltd, L & T Financial Services and Asirvad Microfinance Ltd.

Stating that up to 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 State government would be required to expend around Rs. 7,200 crore.