Kailali businessmen are protesting in an innovative way against financial institutions' excessive interest rates. They are protesting today by refusing to deposit funds at the bank.
According to Pushparaj Kunwar, President of the Kailali Industry and Commerce Association, businessmen would protest today by not depositing cash for one day in order to put pressure on banks, microfinance, and cooperatives to lower interest rates.
For a few days, businessmen in Dhangadhi have been protesting about the rising interest rates, which have put them at danger of losing business.
Dhangadhi businesses, who have been protesting by shutting down for two hours every day, are shifting their tactic by refusing to deposit cash.
Protesters gathered in front of Nepal Rastra Bank in Dhangadhi on Wednesday.
The banking institutions raised the interest rate to 17 percent, up from the previous rate of 7 percent.