Assam flood: Rs 10,000 extra loan for retailers; Rs 1.5 lakh grant for Namghars

The Assam government will provide a one-time financial grant of Rs 1.5 lakh each to flood-affected Namghars in Sivasagar and Charaideo districts, Chief Minister Himanta Biswa Sarma announced on July 30.

The chief minister also said that borrowers in the flood-hit districts of Sivasagar, Charaideo, Jorhat and Golaghat would receive significant relief in loan repayments, following a special meeting of the State Level Bankers’ Committee (SLBC).

According to Sarma, the repayment tenure of eligible bank loans will be extended by six months to up to seven years, depending on the category of loan and the requirements of the affected borrowers.

The government has also announced additional financial support for small traders whose businesses were affected by the devastating floods. 

Borrowers operating retail shops in the flood-hit areas will be eligible for an additional loan of Rs 10,000 without furnishing any fresh mortgage or collateral, the chief minister said in a Facebook post.

“I convened a special meeting of the State Level Bankers’ Committee to discuss loan repayment of flood-hit consumers,” Sarma said.

The measures are part of the state government’s efforts to ease the financial burden on families, farmers, traders and other borrowers affected by the floods that caused extensive damage across Upper Assam.

The announcement comes as the government steps up relief and rehabilitation efforts in the four worst-affected districts, where thousands of families suffered losses to homes, businesses, agricultural land and other assets.