GUWAHATI: The Assam government has announced a six-month moratorium on loan repayments for flood-affected borrowers in Sivasagar, Charaideo, Golaghat and Jorhat, providing financial relief to families and businesses hit by the ongoing floods.
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The moratorium will be effective from July 19.
The relief covers several categories of loans, including housing, education, vehicle, crop, self-help group (SHG), fisheries, poultry, piggery, dairy and micro, small and medium enterprise (MSME) loans.
Under the measure, repayment tenures will also be extended to ease the financial burden on affected borrowers. For housing, education and vehicle loans, the repayment period may be extended by up to one year. Crop and SHG loans, along with fisheries, poultry, piggery and dairy loans, may get repayment extensions from one year to two years.
For MSME loans, the repayment tenure can be extended from three years to seven years.
The relief package also includes a collateral-free consumption loan of up to ₹10,000 for existing borrowers.
In another measure aimed at helping flood-affected families repair damaged homes, ₹1.5 lakh will be provided for repairing damaged namghars in Sivasagar and Charaideo.
The government has urged banks and financial institutions to cooperate in implementing the loan relief measures for flood-hit borrowers.
The announcement comes as Upper Assam continues to deal with the impact of severe flooding, with Sivasagar, Charaideo, Jorhat and Golaghat among the worst-affected districts.