249 Complaints Registered Against Meter Intrests in the Far West Region

Dhangadhi: The administration in Sudurpaschim Province has received a total of 249 complaints regarding predatory lending practices. The victims have reported being deceived by meter intrests and facing homelessness. An inquiry commission has been established to receive and investigate these complaints related to improper financial transactions, specifically targeting meter-busting activities. The commission has been actively examining the complaints received between April 30th and May 28th (17th Baisakh to 14th Jestha).

The majority of complaints, numbering 244, have been registered at the District Administration Office in Kailali. To assist victims of unfair transactions, a dedicated support center has been set up within the district administration office, where complaints have been lodged. The process of studying and investigating the filed complaints has commenced. The prevalence of individuals falling into the trap of predatory lending has increased due to limited access to loans from banks and cooperatives.

The concerned district administrations are categorizing and prioritizing complaints based on their nature. Subsequently, both lenders and borrowers will be summoned for discussions, facilitated by a three-member committee coordinated by the Assistant Chief District Officer. The administration has also authorized ward presidents, deputy heads, or municipal heads to engage in reconciliation processes. However, individuals found guilty of unlawfully charging exorbitant compound interest, charging interest rates beyond legal limits, engaging in deceptive practices, or any other fraudulent activities will face charges and appropriate recommendations will be made to the government.

The source of wealth amassed through meter-busting activities will also be thoroughly examined. The commission will recommend the disclosure of lender's assets, trace the source of those assets, and if the source remains undisclosed, legal action for money laundering will be pursued. A comprehensive report with suggestions for legal measures to address issues related to predatory lending will be submitted to the government.