Assam Micro-Finance Incentive and Relief Scheme (AMFIRS) 2021-2022: Rollout of Category-II benefits: The Government of Assam has decided to launch Category II of the Assam Micro Finance Incentive and Relief Scheme by October 2022. Category II includes borrowers whose payments are outstanding for one to 89 days and the rollout will cover 1.07 lakh beneficiaries.
Earlier the state government had provided money to those borrowers who were making regular payments to the lenders. Microfinance loan waiver is one of the pre-poll promises of the BJP-led government.
Assam Micro Finance Incentive and Relief Scheme 2022 – AMFIRS Microfinance Loan Waiver for Women
The Assam government has launched the second phase of the ambitious AMFIRS microfinance loan waiver scheme for women. The new scheme named Assam Micro Finance Incentive and Relief Scheme 2022 is likely to benefit around 24 lakh women across the state. CM Himanta Biswa Sarma launched the second phase of the Assam Microfinance Loan Waiver Scheme on 2 January 2022. The Chief Minister handed over checks to 5,024 beneficiaries who are paying the installments of micro finance loans regularly.
Assam Micro Finance Incentive and Relief Scheme (AMFIRS) 2022
CM announced the launch of Assam Micro Finance Incentive and Relief Scheme 2022 (AMFIRS) on 2nd January 2022. He formally handed over checks to 5,024 beneficiaries in Gohpur, Behali, Sutiya and Vishwanath at an event held at Biswanath Chariali. The CM said that “we have been able to fulfill our election promise of microfinance debt relief within 8 months from returning to power and the state government will continue to move forward with the same enthusiasm in future also.”
AMFIRS Microfinance Loan Waiver Scheme Phase 1 Launch
The chief minister inaugurated the first phase of AMFIRS Microfinance Loan Waiver Scheme for those borrowers, who have been repaying their debt regularly. CM said “They will be provided with a one-time incentive up to Rs. 25,000 or the outstanding balance, whichever is less. This is an incentive for them to maintain good credit discipline. Altogether, 11 lakh women will benefit in this phase of the programme”.
On 29 November and 30 November 2021, beneficiaries of eight districts — Sonitpur, Charaideo, Sivasagar, Jorhat, Majuli, Golaghat, West Karbi Anglong and Dima Hasao — are provided with their due incentives through account payee cheques. The Assam Cabinet had on 30 September 2021 approved Rs. 1,800 crore to waive microfinance loans availed by poor women in the first phase.
Pre Election Promise for Assam Microfinance Loan Waiver Scheme
During the assembly election campaign in March-April 2021, CM Himanta Biswa Sarma had said all the microfinance loans of women would be waived if the BJP-led coalition returned to power, but after assuming the office he said it was a “political statement, but not a government promise”. The opposition parties had attacked the government for its “U-turn” in waiving the loans as promised by the BJP and said the saffron party has “cheated” the people.
Assam to start Category II of Micro Finance Incentive and Relief Scheme
In the second stage, benefits of Assam Microfinance Loan Maaf Scheme will be extended to borrowers whose payments are overdue by less than 90 days and loan accounts are not classified as non-performing assets (NPA). The state government will pay the overdue amounts to borrowers in these cases. Borrowers whose accounts have become NPA will be covered in the third phase of Assam Micro Finance Incentive and Relief Scheme 2022. The government will consider providing partial or full relief based on evaluation.
What is category-ll under AMFIRS, 2021?
Category-II under AMFIRS, 2021 comprises of beneficiaries/borrowers who have delayed the repayment for 1-89 days. It will cover 97,938 beneficiaries.
Under category-II of AMFIRS, 2021
• The overdue amount shall be paid for crediting into the loan accounts of the borrowers, which may make themselves capable of applyingforfresh new loans.
• Additionally, in order to give a fillip to the credit culture in the state, an Incentive payment of outstanding loan amount or ? 20,000/- whichever is lower shall be made by way of account payee cheques to the borrowers under category – II
The ceremonious distribution function of Category-ll under AMFIRS, 2021 will be held in all districts ot Assam as per the following schedule:
Again 28,29,30 October Bandhan, Microfinance Loan
25 Thousand Free Scheem | MFI | Bandhan Loan | Microfinance | Maaf
- 1 Assam Micro Finance Incentive and Relief Scheme 2022 – AMFIRS Microfinance Loan Waiver for Women
- 2 Assam Micro Finance Incentive and Relief Scheme (AMFIRS) 2022
- 3 AMFIRS Microfinance Loan Waiver Scheme Phase 1 Launch
- 4 Pre Election Promise for Assam Microfinance Loan Waiver Scheme
- 5 Assam to start Category II of Micro Finance Incentive and Relief Scheme
- 6 What is category-ll under AMFIRS, 2021?
- 7 Under category-II of AMFIRS, 2021
- 8 Again 28,29,30 October Bandhan, Microfinance Loan
- 9 25 Thousand Free Scheem | MFI | Bandhan Loan | Microfinance | Maaf