‘EMI moratorium on paper?’ Debabrata Saikia questions Assam govt over bounce charges on flood-hit borrowers

Assam Congress leader and former MLA, Debabrata Saikia, has questioned the implementation of the state government's announcement to suspend loan EMIs for six months for flood-affected people, alleging that banks and financial institutions are still attempting to deduct instalments from borrowers' accounts.

In a social media post, Saikia said the government had announced the six-month EMI suspension as a measure to provide relief to people affected by the floods. However, he alleged that the ground situation was "completely opposite" to the government's assurance.

"Despite the government's assurance, banks and financial institutions are still trying to deduct EMIs from people's accounts," Saikia claimed.

He said many flood-affected people, who have lost their belongings and livelihoods in the floods, do not have sufficient funds in their accounts. As a result, he alleged, they are now receiving messages relating to EMI bounce charges and penalties.

Saikia questioned Chief Minister Himanta Biswa Sarma over the alleged discrepancy between the government's announcement and the experience of flood-hit borrowers.

"If the government has genuinely suspended EMIs, then why are people receiving such harassment messages?" Saikia asked.

He urged the government to clarify the implementation of the EMI moratorium and ensure that flood-affected borrowers are not subjected to additional financial burden during the relief period.

"Stop confusing people who have lost everything in the floods and are already struggling to find their way forward," Saikia said.

The allegations come at a time when thousands of flood-affected families across Assam are facing financial difficulties following damage to homes, agricultural land, livestock and livelihoods.

The government is yet to respond specifically to Saikia's allegations regarding continued EMI deduction attempts and bounce charges.