KATHMANDU: A protest march by victims of microfinance institutions towards Singha Durbar was stopped by security personnel at Shantibatika on Sunday.
The demonstrators had launched the “Capital March” from Balkhu with the aim of reaching Singha Durbar. However, they were prevented from proceeding beyond Shantibatika.
After being stopped, the protesters staged a sit-in on the road and held a public gathering at the site.
The march was organised by the Nepal Farmers and Workers Movement Against Microfinance and Financial Exploitation.
The protesters demanded government intervention against what they described as financial exploitation by microfinance institutions, banks and other financial organisations. Their demands include judicial redress over high and compound interest rates, penalties and service charges imposed under various headings, auctioning of mortgaged property, blacklisting of borrowers and what they called unfair debt recovery practices.
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