Loan shark victims stage protest in Kathmandu after govt delayed bill to address their problems

loan shark victims
Loan shark victims stage a protest in Baneshwor on July 9, 2023, after the government failed to pass a bill to address their problems. Photo: Chandra Bahadur Ale

Kathmandu, July 9

Loan shark victims staged a demonstration in Kathmandu demanding the passing of a law to address the problem they have faced in the past.

The government inked a five-point agreement with the loan shark victims, convincing them to end the weeks-long demonstrations.

Prior to that, the government, in March, said it had begun preparations to introduce a law to address the concerns of loan shark victims.

However, the bill to amend some Nepali laws related to the Civil Code brought by the government on May 3 to address the problems of loan shark victims has become inactive as it was not passed within 60 days of it being tabled.

Loan shark victims, mainly coming from districts of the southern plains, say local loan sharks have been duping them of millions of rupees in compound interests calculated in an unfair system locally known as the meterbyaj.

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