Struggle of Debtors Against Microfinance Institutions Comes To Conclusion; Agreements Reached To Rase Debtors In Trouble

The struggle committee against Nepal Laghubitta Bankers Association and microfinance institutions have concluded its struggles with the agreement that was agreed upon between both parties.

As per the agreement reached, the major points of the agreement are

*microfinance institutions will increase their investment in agricultural and other productive sectors where the EMI will scientifically be fixed and the provision for insurance will be made.

*Microfinance institutions will not mistreat their borrowers while collecting their credit dues

*Microfinance institutions will float the loans as per the policies of Nepal Rastra Bank

*Microfinance institutions will mobilize their CSR and customer protection funds more effectively

*Microfinance institutions will provide at least five scholarships to the children of needy members from every branch at a community school till their secondary education

*Microfinance institutions will facilitate ground-level trickling of the subsidized loan schemes of different governments

*Microfinance institutions will make necessary revisions to their policies to address the difficulties of the blacklisted debtors where the problem-solving mechanism will be in place.