 "MFIs in Assam, borrowers set to get major relief as govt steps in")
In a major relief to microfinance institutions (MFIs) and their borrowers, the Assam government on Friday inked an agreement with MFIs to regularise stressed borrowers and repay the entire loans of highly stressed borrowers.
Also, as an incentive to good borrowers who did not default, the government will repay for each account Rs 25,000, or the loan amount, whichever is lower, to the MFIs. The total cost for the government will be a maximum of Rs 8,250 crore. The agreement was inked with Micro Finance Institutions Network (MFIN).
According to CRIF Micro Credit, Assam was one of the
Also, as an incentive to good borrowers who did not default, the government will repay for each account Rs 25,000, or the loan amount, whichever is lower, to the MFIs. The total cost for the government will be a maximum of Rs 8,250 crore. The agreement was inked with Micro Finance Institutions Network (MFIN).
According to CRIF Micro Credit, Assam was one of the
