ARDS FAP (Financial Assistance Program) for JLG/SHG sector is going to survive the pandemic. We need to treat COVID-19 as the fundamental threat to the industry that it likely is. We need every part of our sector & team to start mobilizing around easing the terms of debts that borrowers cannot service when economies seize up, keeping FAP solvent and preparing to recapitalize them so that we are in a position to lend again and play our vital role in recovery once the crisis recedes.
We now need to mobilize as an industry to ride out this crisis and secure the hard-won gains of the last one year which all of you must know that we have crossed it virtually as we have hit the crisis two times since anti CAB Movement and now this Covid-19 Pandemic. The hundreds of millions of poor people who rely on inclusive finance to borrow, save and send money are counting on us. As we all know that we have an ecosystem where borrowers understand their responsibility better. They should have to be realized about the importance of repaying loans on time and keep their credit history clean.