No Due Certificate to borrowers under Assam micro-finance & relief scheme given away in Cachar

Silchar MP Dr. Rajdeep Roy ,MLA Lakhipur Koushik Rai and DC Rohan Kumar Jha officially handed over the No- Due Certificates to the eligible borrowers in presence of district development commissioner Rajib Roy and other dignitaries on the occasion.

 Speaking as the chief guest on the occasion , MP Dr. Roy said that through the Assam Micro Finance and Relief Scheme, a total of 222949 borrowers under category 3 in the entire state will be given assistance by issuing official No Due certificate, in which a total of 300 crore rupees will be provided.

Elaborating on the initiatives and efforts taken by the present government,Dr Roy stated that the state government is implementing various developmental projects right from micro finance,  government employment, health care facilities and other sectors

He further stated that more than 100 cabinet meetings were held at various district headquarters of the state in the   last two years and 75 percent of the developmental projects have been implemented successfully .

Dr Roy further stated that central government has resolved Kashmir issue and taken initiatives for the construction of Ram mandir. He also said that central government led by PM Modi is keen on implementing uniform civil code in the country, he also  praised the central government and the role played by the Prime Minister Narendra Modi for the overall development of the country.

Speaking at the event, Lakhipur MLA Kaushik Rai said that the present state government is implementing its work in every field as per the promises made before the elections and be it in the case of jobs, in the case of loan waiver, orunodoi scheme, bicycle distribution etc. He said that  state government led by the Chief Minister,Dr Himanta Biswa Sarma is working relentlessly for the overall development of the state .

 Cachar District Commissioner Rohan Kumar Jha also spoke on the occasion.

Earlier,District Development Commissioner Rajeev Roy explained the purpose and the objectives of the occasion.

Symbolically, no Due Certificates were handed over to 12 borrowers as compensation by the dignitaries on the occasion.

 It may be mentioned here that Assam Micro Finance and Relief Scheme was launched in 2021.  Its objective is to provide incentives to eligible borrowers who have taken loans from various microfinance companies from time to time to waive off their loans.

 It’s noteworthy to mention that the beneficiaries of this project are divided into three categories.

 In the first category, those borrowers who are paying installments regularly, whose DPD (Days Past Due) is zero, are being given 25,000 rupees as a one-time assistance based on the remaining loan amount.

 In the second category, those borrowers who have not paid installments up to 189 days but their accounts have not become NPA, the state government is giving them 20’000 as overdue amount plus incentive.

 In the third category  those borrowers who have outstanding loans up to  maximum of 1 lakh 25 thousand and borrowers whose account has become NPA as on 31/03/2021.

 In the last two financial years in the first  category, 872739 people have been provided assistance with a total expenditure of 1600 crores.

 In the second category, 97938 people have been provided assistance, with a total cost of Rs.190 crores.

 A total of 222,949 borrowers under third category will be provided assistance by issuing formal No Due certificates, which will cost a total of Rs. 300 crores.  Under third  category interest and penalty will be borne by the lender.  Priority will be given to borrowers of Rs 25,000 in the first phase.  The government is seriously considering helping borrowers of Rs 25,000-50,000 to make them eligible for future loans as well.  By issuing No Due certificate to the borrowers, 2 objectives are being tried to be fulfilled.

This is stated in a press release issued from Regional office of Information & Public Relations Barak valley Zone Silchar Assam.