Representatives of the government and the microfinance struggle committee signed a six-point agreement to solve the problems faced by ‘microfinance victims’.

The agreement was signed by Maniram Gyawali, coordinator of the talks committee, and Narayan Prasad Risal of the finance ministry, on behalf of the depositors and the government respectively.

With the signing of the agreement, the agitating depositers have agreed to end their protests and the government has assured the victims of formulating policies and making legal arrangements to address their concerns.

The Nepal Rastra Bank will strictly enforce the provision that states the microfinance can’t charge interest rates higher than the stated while approving loans, the agreement reads.

The two sides have also reached an agreement with regard to addressing the protesters’ demand to levy interest not exceeding a single digit and only a one percent service charge.

A study will be conducted to adopt a policy regarding timely service charge and reduction in the interest rates, the ministry said.

Similarly, a probe committee, comprising an expert and three members of the struggle committee, will be formed to carry out a field study on the complaints filed by the victims and submit a report with suggestions to find a solution to the problem within 60 days of its formation.