Kathmandu. The country’s economy was on the verge of recovery for about 6 months. Bank loans were getting easier. The loans given by the bank were also starting to pick up. It was also easier for the bank to auction the mortgage. But not as expected.

Bankers were hoping that by the end of the current fiscal year, the economy would be able to regain some hope by the end of the current fiscal year.

When there was a two-day agitation in the name of Jenji on September 23 and 24, the dream of the banks was shattered.

The possibility of recovering the loans and the loans given went a long way. Due to the Genji movement, the loan recovery process of banks and financial institutions came to a standstill. The Jenji movement not only caused damage to the state, but also to the private sector. It took time for the damaged to recover. The morale of those who were not damaged but who were thinking of investing by taking loans from banks and financial institutions has also gone down.

Bhatbhateni, Hilton, showrooms of various vehicles, Binod Chaudhary, Shekhar Golchha and other private sectors have been attacked in the name of Genji movement. In this situation, the CEO of a bank says that it is very difficult for the bank to raise the loan. “The whole country is in turmoil, houses and buildings have been burnt, stores and showrooms have been burnt,” the CEO said. ’

He said that this will have an impact on the financial condition of the banks and financial institutions to issue in the first quarter.

“In the last 5-6 months, there has been a slight increase in the auction of bank securities. Investors started increasing their investment,” the CEO said, “After the Genji movement, everything has come to a standstill. Now, everyone is worried about what will be the situation of the country, whether the elections will be held on time or not, what kind of government will be formed, what will be the rule of law and what will be the environment for investment. In such a situation, there is a problem in loan recovery. I don’t see the possibility of easing the flow of credit now. ’

The CEO argues that as long as the deteriorating morale of the investors is not lifted, the chances of the situation being easy for the banks and financial institutions are also diminishing.

After the Genji movement, economic activity has slowed down and confusion has increased in everyone. In such a situation, banks will have difficulty in recovering loans by tightening the borrowers, which will increase the risk of bad loans of banks and financial institutions in the long run.

According to banks, loan repayment has come to a standstill in the last few weeks. Many industrialists, businessmen and individual borrowers have not been able to pay the installments. It is said that the bank is facing problems due to lack of repayment. The direct impact of this will be seen in the bank’s report for the first quarter of the current fiscal year.

Economic activity is very slow due to the agitation. Due to the decrease in income, it is difficult for the borrowers to repay the loan. Banks have not been able to proceed with the process of recovering loans by auctioning the collateral assets. Bankers say that it is difficult to find buyers even in the auction of the collateral. More than 20 land revenue offices in Nepal have been damaged during the Genji movement.

At least 10 people were completely damaged in the arson caused by the Genji movement.

According to Khimananda Acharya, spokesperson for the Department of Land Management and Archives, the Land Revenue Offices in Kalanki, Bharatpur, Kaski, Tulsipur, Banke, Ghorahi, Nepalgunj, Dhangadhi, Morang and Butwal have suffered a lot of damages during the agitation.

Similarly, Khairahani, Dadeldhura, Lahan, Siraha among other lands have suffered partial damage, according to Acharya. According to him, some land revenue offices including Kalanki, Kaski and Bharatpur are yet to come into operation.

These 10 offices with land records were burnt down. He urged the landowners to bring 11 different documents including the Land Revenue Office, Kalanki, to maintain the record of the land after the fire.

In order to maintain the records, the landowner will have to bring a copy of the citizenship certificate, the local government where the land is located and a recommendation with three generations of photos of the local level having a permanent address to confirm the ownership of the land.

The original certificate with the landowner, the original document obtained from the source of the land acquisition, a certified copy of the decision file, plot register, field book, map, receipt of the land revenue of the current fiscal year will be required.

Similarly, consent of the organization to freeze the land, on-site survey as required, 35-day public notice as required, consent letter of Guthi Sansthan in case of Guthi land and other proofs will be required. That will also take time. There will be immediate problems in auctioning the mortgage. The process will be extended in government offices after the fire is burnt.