Kathmandu, July 29: President Ram Chandra Paudel has authenticated a “Bill to amend some Nepal Acts related to the Civil Code, 2080 BS” related to unfair loan transactions, popularly known as “meter interest” or usury.
The bill passed by both Houses of Parliament and reached President’s Office for verification was certified by President Paudel on Friday.
President Paudel authenticated the Bill in accordance with Article 113 (2) of the Constitution of Nepal, reads a press release issued by Spokesperson at the Office of the President, Shailaja Regmi Bhattarai.
Thousands of victims of usury have already applied in different district administration offices and police offices to clear from the usury and punish the culprits.
The new arrangement of law will help the concerned agencies to proceed for legal action.
