. The government and the Microfinance and Financial Exploitation Struggle Committee have signed a five-point agreement. With the agreement, the struggle committee has decided to completely end all agitations and hunger strikes across the country from today.
The five-
point agreement was reached after a meeting held on July 30 between the talks team formed as per the decision of the Finance Minister and the office-bearers of the Struggle Committee against Microfinance and Financial Exploitation held at the Subarna Hall of the Ministry of Finance on July 30.
As per the agreement, the report of the task force formed to resolve the problems of microfinance victims will be submitted to the Ministry of Finance within 15 days along with the necessary action plan for the implementation.
Similarly, it has been agreed to make recommendations in the report along with implementable options regarding the rehabilitation program for the rehabilitation of the microfinance borrowers, review of the existing provisions related to blacklisting and auction of collateral.
The agreement states that the Operation Guidance 2081 issued by Nepal Rastra Bank for the ‘D’ class licensed microfinance financial institutions will be fully implemented and strictly monitored.
The meeting also agreed that the Ministry of Home Affairs would direct the District Administration Office to take action against the microfinance institutions if they were involved in activities violating the law such as torture while recovering loans, taking goods from home and exerting pressure from home until the installment is paid. The fifth point of the agreement states that the struggle committee against microfinance and financial exploitation will completely end all agitations and hunger strikes across the country from July 30. The agreement was signed by the office-bearers of the talks team formed by the government and representatives of the struggle committee against microfinance and financial exploitation.
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