Business community take to streets to protest high interest ratesThey say banks and financial institutions have been charging interest rates exorbitantly.
Members of the business community on Friday took to the streets to protest high interest rates charged by banks and financial institutions.
Demonstrators associated with Kathmandu, Bhaktapur and Lalitpur chapters of the Federation of Nepalese Chambers of Commerce and Industry, Nepal Wool Felt Producer's and Exporter's Association and Woolen Felt Producers and Exporters Association among others staged a sit-in at Maitighar Mandala in Kathmandu claiming that banks and financial institutions have been charging interest rates exorbitantly.
Businessmen said they have been hit hard as banks have increased the interest rate three times in the past year. Banks, however, have been defending the moves saying rising interest rates is a global phenomenon.
Here are some images of the protest captured by Post’s photographer Angad Dhakal.