Govt and microfinance victims continue their talks for second day

Published On: March 15, 2024 10:30 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 15: The government and the protesting victims of microfinance finance institutions struggle committee are continuing their talks for the second consecutive day on Friday.

The Ministry of Finance stated that the talks held on Thursday were constructive, nearing an agreement. As a result, discussions resumed today to finalize the details.

The negotiation committee, led by Joint Secretary Narayan Prasad Risal from the Ministry of Finance (MoF), engaged in discussions with the microfinance victims on Thursday evening and reconvened this morning.

A discussion was held regarding the demands raised by the agitating microfinance financial institution victims' struggle committee. The private secretary of the finance minister said that after discussing the initiatives taken so far by Nepal Rastra Bank (NRB) and other agencies to address the demands of the victims, both sides have agreed to address the legitimate demands.

While the MoF's negotiation committee aimed to reach an agreement on Thursday, the microfinance victims requested additional time until Friday. During discussions, NRB's efforts to address the issues faced by microfinance victims were highlighted.

Furthermore, NRB informed the victims about its strict enforcement of regulations on microfinance institutions to ensure compliance with specified interest and service charges. Discussions also covered debt restructuring and rescheduling.

The victims continue to demand an investigation into microfinance institutions violating NRB policies and instructions, demanding appropriate regulatory actions against them.

The government's negotiation committee included Joint Secretary Narayan Prasad Bhattarai from the Ministry of Home Affairs, Under Secretary Jhaindra Guragain from the Ministry of Law, Justice, and Parliamentary Affairs, along with representatives from NRB.

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