It felicitated the founding
members of the company and organizations that extended financial assistance for
the first Micro-Finance Members Summit organized a couple of months back.
Governor of the Nepal Chiranjivi Nepal
Dr. Nepal appreciated the microfinance
for their role in helping the people to get out of poverty. He noted CSD’s role
in poverty reduction.
He urged the microfinance
institutions not to work for profit but for the benefit of people at the rural
and remote areas.
“If you want to earn huge profit
the microfinance sector is not for you. Banks are the trustee of public money
therefore you need to be more transparent, positive and service oriented,” he
maintained.
NRB deputy governor Chintamani
Siwakoti also criticized the microfinance institutions for deviating from the
objectives of the business.
He informed that the central
bank had received about 115 applications seeking license to run microfinance
institutions.
“Increased number of
microfinance companies increased the duplication in lending. A recent research
has found out that a single client had received loan from nine microfinance
companies,” he said.
He informed that the
microfinance companies in the country had mobilized Rs. 20 billion deposits and
Rs. 60 billion loans.
CSD chairman Shankar Man
Shrestha highlighted the achievements of the company and said that it would
continue to work in the remote areas to reduce the poverty.
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