KATHMANDU: The intensive nine-day protest against predatory loan sharking has officially been suspended following a landmark nine-point agreement signed between the victims’ representatives and the government.

The breakthrough came after a grueling “March for Justice,” which commenced in Janakpur and moved through Bara before culminating in high-level negotiations in Kathmandu.

Under the facilitation of the Home Ministry, a government team led by Pushkar Sapkota, Secretary at the Office of the Prime Minister, worked alongside the victims’ delegation led by Awadhesh Kushwaha to draft and sign the resolution.

Central to the agreement is the government’s commitment to classify loan sharking as a serious financial crime, with plans to introduce a formal proposal in the upcoming cabinet meeting to declare its complete eradication.

This move will immediately invalidate all fraudulent promissory notes, forced mortgages, conditional property transfers, and coerced blank checks.

Furthermore, the Home Ministry has committed to drafting a specialized bill within three months to establish a dedicated tribunal for these cases, guaranteeing both the swift return of seized properties and fair compensation for the victims.

To prevent future exploitation, the agreement mandates that all financial transactions certified at local ward offices must now provide verified bank records and proof of legal income.

The upcoming legislation will specifically criminalize deceptive practices, such as inflating loan amounts on paper, compounding interest into the principal, refusing to provide receipts, and forcing signatures on blank documents.

Authorities will also deploy forensic document testing and initiate money laundering probes to track down illegally acquired assets, while working to resolve pending court cases that currently block victims from obtaining justice.

Finally, the resolution establishes a robust administrative framework to handle ongoing grievances, starting with a central high-level coordination committee and a dedicated desk in Kathmandu.

At the district level, newly formed facilitation committees led by Assistant Chief District Officers—and featuring three victim representatives—will work to settle all outstanding complaints within six months.

Backed by a government pledge to introduce targeted economic relief and financial aid packages in the annual budget to keep citizens out of predatory debt traps, the protesters have agreed to dismantle all active demonstrations.