Conditions to waive off loan
Guwahati: The cabinet minister of the Indian state of Assam, Ashok Singhal, on Friday,11th June 2021, declared that the Assam government would not be considering all women mortgagors for forgoing the unpaid debt acquired through microfinance institutions. They will only consider women who fall within a particular eligibility category.
Singhal also mentioned that it would not be a blanket waiver. However, a set of conditions have to be fulfilled to enter the eligibility criteria to waive off loan.
He further said that only those who have taken up loans from microfinance institutions up to the 31st of December 2020 would be considered eligible for the Assam government’s loan waiver scheme.
Following who would not be considered eligible for the relief include: payers of income tax, those who have availed multiple loans, have a four-wheeler or whose annual income exceeds Rs. 1 lakh. An overall, 26 lakh women, particularly from the state’s rural areas, have taken loans from microfinance institutions for different purposes and have faced many problems of harassment from the issuers with regards to repayment of debt. BJP, on the other hand, had promised to assist to waive off loan, especially for the women voters who are facing these issues.
Chief minister Himanta Biswa Sarma had established a committee, Ashok Singhal being the head, in the first cabinet meeting, for the planning and implementation of the word given during the poll.