The Assam Cabinet has decided to approach insurance companies and Non-Banking Financial Companies (NBFCs) to provide a moratorium on loan repayments for people affected by the recent floods. The proposed measure is aimed at easing the financial burden on thousands of families and businesses that have suffered losses due to widespread flooding across the state.
The government believes that a temporary suspension of loan repayments will provide much-needed relief to flood-affected borrowers, allowing them time to recover without the immediate pressure of financial obligations. The Cabinet also plans to request insurance providers to expedite the settlement of claims, ensuring that affected individuals receive timely assistance to rebuild their homes, businesses and livelihoods.
The initiative forms part of the state’s broader flood relief and rehabilitation strategy, which focuses on supporting vulnerable communities and accelerating recovery efforts. Officials said the government will engage with financial institutions and insurance companies to encourage a compassionate and coordinated response to the crisis.
The Assam government has reiterated its commitment to standing with flood-affected residents and ensuring that all possible measures are taken to reduce hardship. Authorities expressed hope that the proposed moratorium and faster insurance claim settlements would provide significant relief and help communities recover more quickly from the impact of the floods.
