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The government criminalized loan sharking in July last year following a series of protests launched by usury victims. The majority of loan shark victims were poor people leading subsistence living. They had taken loans from unscrupulous lenders for various reasons, from paying medical expenses to sending their sons abroad for foreign employment and paying for their daughters’ weddings. In exchange, they offered what little land they owned as collateral or agreed to pay the interest rates dictated by the lenders.

Little did they know that they had agreed on an impossible deal, that they would forever be indebted to their lenders or lose their collateral. It was as if they had been held hostage by their lenders.         

With the passing of the law that came into effect following the amendment to the National Criminal Procedure (Code) Act 2017, it was expected that the loan sharking victims would finally be free of their financial troubles. Convicted loan sharks could face jail terms of up to seven years with fines up to Rs 70,000. In case of those loan sharks found guilty of confiscating cash or property from borrowers, the law prescribed that they return the equivalent cash or property.

The government also formed a commission to investigate and resolve usury-related cases. The commission recorded thousands of complaints in the initial weeks and many loan shark victims were finally unburdened from their seemingly unending debt cycle. But not everyone got justice. Many loan shark victims still do not seem to have recourse to legal channels. They are still resorting to protests and demonstrations to make themselves heard. 

Usury victims from various parts of the country are still walking all the way to Kathmandu to demand justice. This is a cause for concern; clearly the law has not deterred loan sharks from exploiting the poor. Many victims say that their lenders are too powerful and politically connected. The government should make sure that the concerned authorities prosecute those loan sharks, no matter how powerful or politically linked they are. No one is above the law. 

The Nepal Stock Exchange (NEPSE) plunged by 20. 76 points to close at 2,005. 83 points on Thursday.

Similarly, the sensitive index dropped by 3. 49 points to close at 359. 57 points.

A total of 9, 518,075-unit shares of 309 companies were traded for Rs 3. 20 billion.

Meanwhile, Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) was the top gainer today with its price surging by 10. 00 percent.

Likewise, Himalaya Urja Bikas Company Limited (HURJA) was the top loser as it's price fell by 7. 60 percent.

At the end of the day, the total market capitalization stood at Rs 3. 15 trillion.

The price of gold has increased by Rs 600 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 117, 100 per tola today. It was traded at Rs 116, 500 per tola on Thursday.

Meanwhile, tejabi gold is being traded at Rs 116, 550 per tola. It was traded at Rs 115, 950 per tola.

Similarly, the price of silver has increased by Rs 35 and is being traded at Rs 1,410 per tola today.  

The price of gold has increased by Rs 100 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 118, 500 per tola today. It was traded at Rs 118, 400 per tola on Thursday.

Meanwhile, tejabi gold is being traded at Rs 117, 950 per tola. It was traded at Rs 117, 850 per tola.

Similarly, the silver is being traded at Rs 1,370 per tola today.  

The Nepal Stock Exchange (NEPSE) gained 5. 74 points to close at 2,096.38 points on Thursday.

Similarly, the sensitive index surged by 0. 67 points to close at 378. 64 points.

A total of 9,171,710-unit shares of 317 companies were traded for Rs 3. 21 billion.

Meanwhile, Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) was the top gainertoday, with its price surging by 10. 00 percent. Likewise, Siddhartha Investment Growth Scheme 3 (SIGS3) was the top loser as its price fell by -9. 97 percent.

At the end of the day, total market capitalization stood at Rs 3. 29 trillion.

The price of gold has dropped by Rs 200 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 118, 400 per tola today. It was traded at Rs 118, 600 per tola on Wednesday.

Meanwhile, tejabi gold is being traded at Rs 117, 850 per tola. It was traded at Rs 118, 050 per tola.

Similarly, the price of silver has dropped by Rs 5 and is being traded at Rs 1,370 per tola today.

The Nepal Stock Exchange (NEPSE) gained 4. 92 points to close at 2,090. 64 points on Wednesday.

Similarly, the sensitive index surged by 0. 12 points to close at 377. 95 points.

A total of 7,732,234-unit shares of 313 companies were traded for Rs 2. 84 billion.

Meanwhile, Gurans Laghubitta Bittiya Sanstha Limited (GLBSL), Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ), Buddha Bhumi Nepal Hydropower Company Limited (BNHC) and Eastern Hydropower Limited (EHPL) were the top gainers today, with their price surging by 10. 00 percent.

Likewise, 9.5% NCC Debenture 2086 (NCCD86) was the top loser as its price fell by -5. 25 percent.

At the end of the day, total market capitalization stood at Rs 3. 28 trillion.

The Nepal Stock Exchange (NEPSE) gained 9. 44 points to close at 2,085.71 points on Tuesday.

The sensitive index, however, dropped by -1. 45 points to close at 377. 83 points.

A total of 7,624,376-unit shares of 315 companies were traded for Rs 2. 59 billion.

Meanwhile, Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) was the top gainer today, with its price surging by 9. 99 percent. Likewise, Samling Power Company Limited (SPC)was the top loser as its price fell by -10. 00 percent.

At the end of the day, total market capitalization stood at Rs 3. 27 trillion.