Satin Creditcare Network Limited has announced the receipt of the initial disbursement amounting to ₹14.77 crore under Category III of the Assam Micro Finance Incentive and Relief Scheme 2021 (AMFIRS). Launched in August 2021, this initiative, in collaboration with the Government of Assam, aims to provide financial support to microfinance borrowers in Assam.
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Category III of AMFIRS targets borrowers whose accounts have been classified as Non-Performing Assets (NPAs). Specifically, it focuses on NPA borrowers with an outstanding principal amount of up to ₹25,000 as of March 31, 2021, who were not covered by Categories I and II of the scheme.
However, shares were down by 0.69 per cent to ₹236.65 at 9.33 a.m. on the BSE.