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Government should be clear about loan waiver: CEO Rajvanshi


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According to Ramdayal Rajwanshi, CEO of Forward Microfinance, there is a problem in Microfinance now due to lack of understanding.

Government should be clear about loan waiver: CEO Rajvanshi

Nari Masik, co-publication of Kantipur Publications, speaking at the fourth session of Nirbhik Nari program organized in Biratnagar on Wednesday, 'Microfinance made entrepreneurs, non-payment of loans caused problems', said that although microfinance is a small-scale commercial bank, it is doing social upliftment.

'Microfinance is a small bank . It is a financial institution according to law and not a social institution. As microfinance is also registered under the Banking and Finance Act, it also works like a commercial bank,' he said, 'microfinance is established with the capital of individuals or investors. But microfinance goes to rural areas and invests loans by going door-to-door rather than unsecured rural people . Which has invested in a very risky agricultural sector . Microfinance has created a habit of saving in women . Women have saved billions of rupees.'

According to him, microfinance is currently being monitored by the National Bank, so there are not many problems. "The National Bank is taking action against the institutions that had problems with internal governance," he said, "There was no credit information center before, so one person took many loans, that's why there was a problem." But now that problem is also decreasing .'

He said that apart from giving loans without collateral, Lagufitta also teaches borrowers how to use loans by conducting financial literacy programs. According to him, unhealthy competition has increased recently since many microfinance institutions were established with the sole purpose of making profit. According to

CEO Rajwanshi, the movement started to waive off loans has been going on for more than 2 years and it is causing problems to microfinance . 'If microfinance is closed due to such an unwanted movement, only the poor will have a problem . The government should now also talk about loan waiver,' he said, 'because this is not correct at all . If microfinance is closed, the amount of 6 million depositors will be at risk.'

प्रकाशित : फाल्गुन २३, २०८० १९:१३
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