The labyrinth of financial exploitation and the struggle of victims

There were many instances where people from Jajarkot, Surkhet, Kailali, Dadeldhura and many other districts left their villages and disappeared. Many poor families left their villages and migrated to India after the microfinance turned the interest into capital, the cattle who did not repay the loan on time, the collection of whatever they could find and threatened. Not only during the Corona period, microfinance terror is exploiting thousands of people financially. Victims have repeatedly come to the streets of Kathmandu and protested against extreme financial exploitation by microfinance. After walking for ten days to make their voices heard at the political and administration headquarters in Kathmandu and hoping for justice, the victims of microfinance have once again taken to the streets of Kathmandu.

Likewise, thousands of poor, farmers-labourers are trapped in the maze of fake loans and usurious meter interest. The moneylenders are not only giving loans at high interest rates to the economically weaker sections and communities, they are not only cheating by making fake papers, but they are also doing the work of beating and violence as well as terror. The usurers have given loans at exorbitant rates of interest by tricking or confining the vulnerable people. Not only this, the miter bag victims have not been freed from the cycle of extreme exploitation, which involves adding high interest back to the capital, keeping the land mortgaged, the land not being returned even after the loan is paid, and on the contrary, the usurer is legally stronger.

On the other hand, the co-operatives are reaping the ultimate loot on the tears and sweat of thousands of people. Theoretically, cooperatives are autonomous organizations established collectively for collective ownership, collective control and achieving common economic and social goals. Co-operatives believe that through collective ownership and control and participation, the underprivileged and marginalized communities benefit. However, mocking the theoretical belief of cooperatives, most of the cooperatives in Nepal are fulfilling the financial interests of certain elites, while the funds of thousands of savers have sunk. Corrupt, middlemen, brokers to political leaders are involved in embezzling the funds of the cooperative's savers. Therefore, a large group of co-operatives are also involved in street struggles. The poor, laboring and oppressed communities have suffered the most from all these types of financial exploitation.

tyrannical protective structure

If we look at the agricultural economy of Nepal, the main driving force of the economy was the working class. Because the largest contribution to agricultural production was from the working class and the community. The feudal lords and rulers became rich by seizing the results of the sweat and blood of those workers. For example, it was the ruling caste and class people who looted the land owned by the tribals and the Tharu. They were the ones who not only looted the land, but also made the Tharu Kamaiya and Kamlahari.

It was the same caste and community that looted the laboring people, be it by keeping halia as slave laborers or by keeping herds. Even now they are imprisoning workers, poor, oppressed and Dalits in forced labor. In this way, in the past, extreme exploitation, tyranny and looting of the working class and community was sustained under the guise of state power. The Rana-Shahisatta and Panchayats brought policies like land reform and established the legality of the land stolen from the laborers and the real arable farmers.

From such a feudal economic system, Nepal is gradually transforming into a capitalist society. They became capitalists not because of changes in production relations and productivity, the development of industrial capitalism or the creation of national capital, but because of the legacy of traditional hegemonic feudalism in the economy. That is, under the guise of power, the feudal exploiters of the past have turned into capitalists. Under the guise of this power, he has given legitimacy to various cycles of financial exploitation of the laborers, oppressed, farmers and workers.

Microfinance institutions are interpreted by some as the modern incarnation of the financial lender. However, just as the moneylenders of the feudal system used to trap the common people by giving them loans at higher interest rates or took advantage of them, in the same way, microfinance is basically making women a cruel financial trap and making extreme loot. However, microfinance has been recognized by the state as an institution that provides savings to low-income people and women as members and provides unsecured loans in collective deposits.

However, microfinance has no interest in whether or not it has a positive impact on the economic transformation of low-income people. His interest centers only on the idea of ​​how much profit or return can be earned from the given loan. Therefore, Sojhasidha encourages women to take loans and extreme financial exploitation. The state protects microfinance that commits financial crimes against the poor, economically disadvantaged and marginalized communities. Those financial criminals are limited to the management, regulation and monitoring formalities of microfinance.

Similarly, the capitalists are supported by the state apparatus to make business investments and earn profits. Like: A limited capitalist borrows from the banking system from the savings of thousands of savers. They commit commission, tax evasion and extreme exploitation of labor in the project. The concept of co-operative was started by those who want to do general retail business, get returns from collective investment and bring change in the economic life of marginalized communities.

However, most cooperatives in Nepal have completely rejected the concept of collectivity. He has criticized the theoretical recognition of collectivity and is using the funds of the cooperative for the interests and benefits of certain individuals. It is a financial crime against the savers against the collective finance system. The government has not been able to stand firmly in favor of justice for the thousands of cooperative victims. Basically, this may have happened because the government is protecting financial criminals in the name of cooperatives.

Taltu's government efforts

Government is considered by the people as a guardian and as a charioteer in difficult situations. Whether it means the financial exploitation and terror created by the microfinance converted into financial loan sharks or the economic embezzlement by the elite in the name of cooperatives or the extreme economic crimes committed by the usurers against the poor, farmers, workers and marginalized communities in the name of metered interest. It is the responsibility of the state to give justice to the people in such matters. However, if we look at the history of the government since the beginning of time, if any issue of a serious nature has arisen, Taltu has been looking for a solution rather than giving justice to the victims and looking for a long-term solution to such problems.

Especially in Terai-Madhesh, the victims of meter-banking, who were oppressed by usurers, continuously fought for justice in Kathmandu. The movement basically raised demands such as declaring metered interest illegal, taking action against poor usurers, canceling the debt of borrowers who have paid the principal amount, and returning home mortgages or mortgages. On the 18th of Chait 2079, 5 points were agreed between the meter abuse victims and the government.

The government has done the work of creating a working group to study the atrocities on the victims of meter abuse, from amending the law to forming a commission. However, they could not get justice only with those efforts of the government and they have to come to Kathmandu again for judicial struggle. Likewise, there is no environment for the microfinance victims who left their homes to come back. On the other hand, thousands of ordinary savers have been robbed of billions of money from cooperative operators. There is a situation where the savers who run away will not get their savings back. The government is aware of all these situations, but has not been able to take concrete steps towards solving the problem.

The government has announced the liberation of Halia, Harwacharwa, Kamaiya, Kamlahari, who were subjected to feudal exploitation in the past, and conducted a rehabilitation program. However, they have been pressed into bonded labor for years, neither have they received compensation for the atrocities and exploitation in the past, nor has action been taken against the feudal lords who forced them into bonded labor.

On the other hand, under the modern methods of financial exploitation, thousands of people have been subjected to extreme exploitation by meter-banks, cooperatives, microfinance and are struggling for justice. This problem is not only the problem of the victims, it is a serious problem of the economy that affects the daily life of the people. Therefore, the state should ensure that all those who have been subjected to extreme exploitation from historical exploitation and are caught in the maze of modern financial exploitation get justice.

Where is the political party?

There is no support or strong support from the political parties, their grassroots organizations or leaders in the movement against meter-banking victims, co-operative frauds, excesses of microfinance. Some young, progressive reformist political forces, some left-wing parties, broad civil movements, etc. have become the cause of the struggle. Political parties in favor of people's rights were basically seen in these movements. Eradication of rural debt, ending all practices of zamindari and feudal exploitation, eliminating usury were written in the manifesto of the Nepal Communist Party in 2006.

In 2052, the 40-point demand submitted to the government by the Maoists before starting the people's war included agendas such as confiscating the feudal lands and distributing them to the landless and squatters, and nationalizing the property of the broker-bureaucratic capitalists. There are parties called Communists on both the ruling and opposition sides of the parliamentary system. If we look at the legacy of that party, it seems that they have fought against feudalism, usurers and financial exploitation.

But whether the ruling Maoists or the opposition UML are not ready to speak for the thousands of victims of financial exploitation. They do not stand with the farmers, laborers and victims who have been marching for weeks. Such a big issue of financial exploitation is neither the priority of the Congress nor any other party. Therefore, political party leadership is necessary to solve the problem of financial exploitation that needs to be solved politically.