Microfinance has been playing an invaluable role in transforming the lives of the weaker section of society by making them financially independent and self-sufficient. The industry bodies and the microfinance institutions collectively helped the women entrepreneurs sail through the turmoil due to pandemics and overcome its impact on their business and other challenges.
During Covid Pandemic, the low-income group was worst affected, resulting in a significant reduction in regular income and in some cases leading to business loss. But the inspiring story of a spirited woman entrepreneur Disha Sonowal of Dibrugarh, Assam portrays that achieving business success is a matter of time when the challenges are faced with resilience and perseverance. A microfinance loan of INR 30,000 from Arohan Financial Services helped her set up a poultry business.
The Assam State Government in partnership with 39 MFI lenders announced the Assam Micro Finance Incentive & Relief Scheme 2021 for microfinance customers like Disha Sonowal. The Assam Government rewarded customers who were regular with the repayment of their microfinance loans and enabled others who are in difficult circumstances to become regular and be a part of the mainstream. She received a one-time incentive of INR 25,000 and she did not miss the chance to mend her credit score by repaying the EMIs. She is now literally leading other women borrowers of the neighborhood to repay their loans in a timely manner to maintain a healthy credit bureau record for an improved standard of living.
