Assam floods: AJP seeks six-month loan moratorium for affected families

The Opposition Assam Jatiya Parishad (AJP) on July 30 called on the Centre, the Assam government, the Reserve Bank of India (RBI) and financial institutions to announce a six-month moratorium on loan repayments and equated monthly instalments (EMIs) for people affected by the floods in Upper Assam.

In a joint statement, AJP president Lurinjyoti Gogoi and general secretary Jagadish Bhuyan said the floods had severely affected the lives and livelihoods of lakhs of people across the state. They said thousands of families had lost their homes, farmland, livestock, small businesses and primary sources of income, leaving them under severe financial strain.

The party urged authorities to suspend repayments of housing, vehicle, business, microfinance and self-help group (SHG) loans, along with other EMIs, for at least six months in flood-hit areas.

"The burden of repaying bank loans, housing loans, vehicle loans, business loans, microfinance loans, self-help group (SHG) loans, and other EMIs has become unbearable for flood-affected families," the statement said.

The AJP also demanded that borrowers should not be charged late payment fees, penal interest or any other financial penalties during the moratorium period.

Besides the repayment relief, the regional party sought a special rehabilitation package for farmers, small entrepreneurs, SHGs and families that lost their livelihoods due to the floods. It proposed easy-term credit, concessional loans and interest relief to help affected people restart their economic activities.

The party said flood response should extend beyond the distribution of relief materials and include financial assistance to help families recover from their losses.

The demand comes as Assam continues to battle the aftermath of the floods. Although water levels have receded in several areas, the flood toll has risen to 78, while more than three lakh people remain affected across the state.