Think thrice before taking loans from banks and other financial institutes: CM Himanta

STAFF REPORTER

GUWAHATI: Chief Minister Himanta Biswa Sarma alerted the people to think thrice before taking loans from banks and other financial institutes. "Not refunding loans is swindling of others' money. This culture (not repaying loans) was alien to Assam," he said.

The Chief Minister said this while launching a micro-lending scheme for entrepreneurs at the foundation day celebrations of Nedfi today.

Nedfi wants to extend loans to entrepreneurs up to Rs 2 lakh. The Chief Minister said, "Avail of the loan scheme of Nedfi, but you need to get your refunding plan ready."

The Chief Minister said, "We took the humanitarian decision to waive the microfinance loans of women, keeping an eye on the mental pressure they were under at that time. The microfinance companies did create mental pressure on them in the name of recovering their loans. We had to spend around Rs 12,000 crore from the state exchequer to waive the loans. We could have spent the amount for medical colleges, schools etc."

The Chief Minister said, targeting financial institutions, "Behave like bankers. Don't wear the hat of Kabuliwala. Microfinance companies charged very high-interest rates from women. In the name of recovery of loans, they took valuable items from women's households. That was not just. Taking a loan is a must for self-help groups or others to make the economy thrive. I request the people yet again to think thrice before taking loans."

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