Kathmandu. A 5-point agreement has been signed between the government and the microfinance victims.
A consensus was reached between office-bearers of the talks team formed to resolve the problems and representatives of the struggle committee against microfinance and financial exploitation after holding dialogue and discussion on demands related to the microfinance victims’ group, formed as per the Finance Minister-level decision of July 30.
Here are the points of agreement{
- The report of the task force formed to submit a report with appropriate alternatives to address the problems of microfinance victims will be recommended to the Ministry of Finance within 15 days along with the implementation action plan.
- } To make recommendations in the report with suitable implementable options on the issues including conducting rehabilitation program for the revival of the distressed microfinance borrowers and reviewing the existing provisions related to blacklisting and auction of collateral.
- Complete end of all agitations and hunger strikes across the country on behalf of the Struggle Committee against Microfinance and Financial Exploitation from today.
(TAG_OPEN_li_15}} To fully implement the Operation Guidance of Nepal Rastra Bank, 2081 issued by the Nepal Rastra Bank to Microfinance Financial Institutions and the same shall be strictly monitored by the Rastra Bank.
The Ministry of TAG_OPEN_li_14 Home Affairs will direct the District Administration Office to take action as per the prevailing law against the microfinance institutions for illegal activities such as torture for loan recovery, taking goods from their homes and arresting the employees of the institutions staying at home until the installment is paid.
