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Published On: April 5, 2024 07:16 PM NPT By: Republica

Task force formed to study problems of microfinance victims develops action plan

Task force formed to study problems of microfinance victims develops action plan

KATHMANDU, April 5: The task force formed by the government to address the demands of microfinance victims has prepared its action plan.

The task force has crafted a draft action plan outlining on-site investigations and discussions on policy reforms. Revati Prasad Nepal, an executive director of Nepal Rastra Bank and a member of the task force, revealed that modalities have been established for the formulation of a recommendation report.

"There's a growing demand for the forgiveness of microfinance loans," he stated. "We will explore the potential basis for such actions through on-site investigations and propose policy reforms accordingly. Stakeholder engagement modalities have been devised for this purpose,” he added.

The task force, comprising seven members and led by the Deputy Governor of Nepal Rastra Bank, was formed on March 15 with the objective of providing recommendations to address the grievances of microfinance victims. The task force has been given a deadline of two months to submit its comprehensive report.

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