The government and loan shark victims have finally reached a nine-point agreement on Friday. The agreement was reached between Secretary at the Office of the Prime Minister and Council of Ministers, Pushkar Sapkota, and the victim side.
Sapkota coordinated the government talk team while Awadhesh Kushwaha represented the victims' team. As per agreement, the government would be recommended to declare the elimination of loan sharking, arguing that it is a financial crime and social evil.
The fake documents related to loan sharking would be rendered void with the elimination of loan sharking.
Similarly, the Home Ministry will draft a bill on control of loan sharking crime and proceed with the law-making within three months. The law would have the provisions like declaring loan sharking a crime along with its clear definition and guarantee of appropriate compensation to the victims with the return of their movable and immovable property.
A tribunal would be set up to look after the issues surrounding the crimes relating to extortionate money lending.
The documents prepared by breaching the law like the Civil Procedure Code would be rendered illegal.
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