CM Sarma pushes banks to shed funding unease over projects in Assam

Assam asks MFIs to identify borrowers to get balance payments

Assam Chief Minister Himanta Biswa Sarma on Monday urged banks to fund more projects in the state, and let go of adverse perceptions.

 

“We have to prepare banks so they can fund projects in Assam.  Sometimes people become prisoners of the past. Breaking that barrier is crucial and you have to fight the perception battle,” the Assam CM said at a press conference after a function on the eve of the investment summit slated in February.

 

“They may question as to why they want to invest money in Assam and why not go to other states,” he added.

 

The Assam government on Monday said the microfinance institutions (MFIs) will have to identify borrowers to get the remaining payments under the state government's incentive and relief scheme.

 

Sharma said last year the government tried to give no-dues certificates to 150,000 borrowers but MFIs have not been able to locate 75,000. He said the lenders and the government are finding it difficult to locate the borrowers.

 

The state government has launched the Assam Microfinance Incentive and Relief Scheme (AMFIRS) to empower microfinance borrowers across the state. This initiative is designed to ease financial stress and extend crucial support to borrowers with limited repayment capacity.

 

On the issue of banks having adverse views on lending to projects in Assam, Sarma said he will not take up the issue with banks. He said that when the government works with strength on investments, all comes around.

 

Earlier, dwelling on the upcoming summit, the chief minister said there is political stability in Assam and has the best law and order conditions. The government is fiscally strong.

 

Urges Industry to shun hiring illegal B’deshis

 

Assam’s Chief Minister Himanta Biswa Sarma on Monday exhorted industrialists not to hire illegal Bangladeshi migrants in their units for ‘cheap labour’.

 

Addressing a press conference after meeting a slew of industrial houses, including the Tatas, Adani Group and Mahindras, Sarma said there is a need to ‘strike at the roots’ of the illegal migration from Bangladesh problem by not hiring such migrants.

 

Sarma said given the state’s proximity to the North Eastern theatre which sees maximum deployment of Army, the state is also looking to attract investments into defence production and repair.