Over 5,000 cases related to loan sharking resolved

DECEMBER 14: The commission formed by the government to resolve usury-related cases has settled 5,155 out of over 28,000 cases filed so far.
Former Additional Inspector General (AIG) of Police Uttamraj Subedi, a member of the commission, shared that a total of 218 bighas 10 katthas 7 dhurs of land have been returned to the loan shark victims from their lenders through reconciliation since the formation of the commission.

The study conducted by the commission showed that there were written transactions of over Rs 5.857 billion between the victims and the loan sharks while the loan sharks were found to have claimed that over Rs 1.62 billion remained to be recovered from the victims.

Among them, transaction amounting to over Rs 1.72 billion was settled in consensus between both parties, the commission said.
The commission had collected applications from the victims from April 30 to May 28. Altogether 21,552 complaints were lodged in eight districts of Madhesh Province while 1,862 complaints were filed in Nawalparashi West.

The commission’s Chairperson Gauri Bahadur Karki shared that the commission submitted its report to the prime minister last Tuesday. According to Chairperson Karki, there was no problem of usury in 39 districts where only a couple of such cases were registered and resolved.
The incumbent government had formed a three-member high-powered commission to address the issues of those subjugated to loan-sharking. The parliament also has passed the law regarding this and the law has been enforced as well.

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