Category IV relief under AMFIR scheme being worked out: Assam CM Sarma

Guwahati (Assam) [India], September 23 : Assam Chief Minister Himanta Biswa Sarma on Saturday informed that Category IV relief under the Assam Microfinance Incentive and Relief Scheme (AMFIRS), 2021 is being worked out and it will be launched soon.  
Sarma attended the ceremonial distribution of relief under Category - III of the Assam Microfinance Incentive and Relief Scheme (AMFIRS) 2021 as Chief Guest at an event held at the Janata Bhawan Complex in Guwahati.
On the occasion, CM Sarma expressed happiness at the prospect of as many as 2.2 lakh female microfinance and bank loan borrowers again becoming credit-worthy through the Category-III relief and said, "Category- IV Relief too is being worked out."
The State government is shelling out a total of Rs 291 crore as compensation to the lenders (microfinance institutions) and this move is expected to benefit a total of around 2.2 lakh borrowers from across the State. In return, the concerned microfinance institutions shall issue "no due certificate" to the borrowers, thus making the latter credit-worthy again under the formal financial system. 
Referring to the Assam Microfinance Incentive and Relief Scheme as a first of its kind in the country, Chief Minister Sarma said,"Its main objective was to provide relief to eligible borrowers who had availed small loans from microfinance institutions and the formal banking system but owing to certain circumstances, they couldn't repay the borrowed amount in full."
Expressing his gratitude towards the microfinance institutions for agreeing to waive around Rs 300 crore in interest income for the sake of successful implementation of Category-III relief measures, Chief Minister Sarma appealed to the beneficiaries of the scheme to ensure from now onwards any amount borrowed from financial lenders are repaid in full and on time.
"Providing the scheme's beneficiaries with 'no due certificate' would also aid in the process of universal financial inclusion," Chief Minister Sarma said. 
Chief Minister Sarma further said the primary reasons behind the default in loan repayment can be said to be the COVID-19 pandemic scenario and the anti-CAA movement.
"Now that the pandemic period and days of strife have been left behind, it is important a healthy credit habit is built up in the State," the Chief Minister said.
Chief Minister Sarma, referring to recent media reports alleging the State government back-tracking on its promises to provide relief to microfinance loan defaulters, said that only those loans that had become non-performing as of March 31, 2021, shall be eligible for coverage under AMFIRS 2021.
The Government of Assam announced the Assam Microfinance Incentive and Relief Scheme (AMFIRS) in June 2021 with the objective of strengthening the long-term view of ensuring the continuity of micro-finance in supporting the economic activities of low-income and poor households in the state.