"Microfinance is indispensable for poverty alleviation"

Dr. known as the father of microfinance. The speakers of the program held in Kathmandu on the occasion of Harihar Dev Pant's ninth memorial day said that microfinance is indispensable for the growth of production and entrepreneurship at the local level, job creation and the economic progress of the people.

Member of the House of Representatives Bhagwati Chaudhary said that although there is a problem in the microfinance sector, it can be solved by all parties working together. However, he says that only microfinance institutions cannot be held guilty in the name of the movement. "Nowadays there is a problem in microfinance, the cause of it is from the institution to the customer and the regulatory body, everyone should solve the problem together," she said -break MP Chowdhury has said that frauds have also started to happen by saying that microfinance loans will be waived. "It has been heard that 1,000 to 5,000 have been raised from microfinance borrowers to get the loan waived through the movement," she said.

Executive Director of Nepal Rastra Bank and Head of Microfinance Supervision Department Bimalraj Khanal said that the problem has arisen due to the activities of microfinance. "Microfinance did not work according to the purpose, many institutions gave loans to the same person, the institutions also tried to earn profits quickly, unhealthy competition also happened when there were many institutions," he said, "The intentions of both the institutions and the borrowers caused the problem, now it is being resolved."

He said that recently there have been attacks on employees and offices of microfinance and that should be stopped. President of Nepal Microfinance Bankers Association Ram Bahadur Yadav said that the microfinance sector has done the work of connecting the rural people of Nepal and especially women in the economic sector. He said that microfinance has provided financial access to six million people, and said that microfinance should be strengthened to contribute more to poverty alleviation.

dr. President of Harihar Dev Pant Foundation, Janardan Dev Pant said that in 2049, more than 50 percent of the people are under the poverty line and the microfinance campaign has made a significant contribution to reducing Said he did. "About 20 percent of the people in the country are still below the poverty line, microfinance is indispensable for poverty alleviation," he said. Dr. who is going to eliminate poverty and unemployment throughout his life by starting microfinance. He said that they are constantly trying to complete the unfinished works of Harihardev Pant.