Kathmandu. Jibi Rai, who absconded after setting up cooperative networking and eating billions of rupees from millions of savers, has not been found yet. Even though the government has changed several times, they have not been able to find and bring GB. Even after the Balendra Shah-led government was formed, the issue of GB has become a problem. No member of parliament of the Rashtriya Swatantra Party raised a voice saying that JI should be found and brought back to the savers' money. This has sparked a debate among ordinary citizens - why the government does not want to find and bring Jibi. Billions of rupees of savers are trapped in cooperatives.

The money saved by selling their ancestral property, earned by going abroad, by taking jobs and doing wage labor has been eaten by the cooperatives. Cooperative victims have been suffering for years. However, the government is not interested in prosecuting those who run away with people's money. Most cooperatives have drowned. The bank is in crisis. Microfinance and finance are also in a relaxed state. This is the weakness of the government. The government gave licenses, but did not regulate. Common citizens have to bear the consequences. Had the government kept the banks and financial institutions under control, the citizens would hardly have drowned today. 

Banks and financial institutions are victims wherever they go. Some banks are victims, some cooperatives, microfinance and finance are victims. They complain that their money is stuck in public places and transport. Five years ago, government banks used to give 12 percent interest.

The private bank was giving interest up to 16 percent. Cooperatives, microfinance and finance used to give 14 to 22 percent interest. In the greed of interest, people sold their houses and brought money and kept it in financial institutions. The tendency to keep money in the bank and eat it with interest has increased. The fact that banks and financial institutions have sunk is not hidden. 95 percent of cooperatives, microfinance and finance have been closed. Even five percent are not able to return the money. There are so many house owners who complain to the police and the ward to remove the banks and financial institutions from their houses. 

The reason is fear and accumulated rent. On the one hand, the landlord is afraid that the savers will vandalize the house, on the other hand, they have not received rent for months. According to the savers of the bank, the bank now gives three to three percent. Previously, Nepal Rastra Bank used to withdraw liquidity from the market three times a week.

Now every day the National Bank withdraws money from the bank. The National Bank takes that money and accumulates it. There is no income from that money or anything. What is the source of the bank's income? There are expenses, no income. Despite this situation, the bank has not stopped collecting money from the market. One step ahead, the bank collects money from savers, one step back, the National Bank takes it away.

On the other hand, the bank has also reduced the rate of money given from ATMs. Earlier, it was given up to 50,000 once, but it has been limited to 20,000. The bank's credit investment is in four areas. Real estate, cars, shares and gold. Companies such as banks and financial institutions, insurance companies, hydropower, etc. issue shares at Rs 100 per share. Brokers have artificially increased its price to 3200 rupees. The bank has invested 80 percent in it. And it is natural for the bank to be at risk. 15 to 20,000 rupees are not sold in plantations. Planned.

And that land was sold for 25 lakhs to crores. Banks and financial institutions are the ones who invest in it. Banks and financial institutions are now in crisis due to the recession in the real estate business. Banks and financial institutions turned a blind eye and invested because of the artificial price increase everywhere. Therefore, savers' money is at risk. Land mafias have taken the government property in the name of individuals. For example, Lalita Niwas in Waluwatar, leather shoe factory in Bansbari, Bal Mandir land. Prominent businessmen of the country have taken loans from banks by mortgaging these lands. 

As the government has nationalized these lands, the banks are in trouble. From where will the bank collect the invested loan? If the government decides to cancel the registration of land after the years 2021, 2028 and 2032, the banks will be on fire. The bank invested blindly to earn profit.

The bank will bear the consequences. A few days ago, the armed police seized seven and a half hundred customs evading vehicles. There must be millions of vehicles that have evaded customs on the road. If the government checks the documents of the vehicle tomorrow, what will happen to the bank? Will the bank that invests in customs evaded vehicles sink or not? How will cars be imported by evading customs? Now it has changed. This incident has confirmed that vehicles were imported in this way in the past as well. In what area to invest? How much to invest? How to invest? The National Bank and the Ministry of Finance did not make a policy. The government did not teach us not to invest in luxury goods, to open industries.

A few months ago, gold, which was not sold at 80 rupees tola in 2022, was increased to nearly 4 lakh rupees. There are neither people who take loans from banks nor people who pay the loans. He will take crores from the debtor, the mortgage is worth six lakhs. Now how does the bank raise its loan investment. By taking bribes, the directors and employees of the bank gave a loan of 3 crore rupees with a mortgage of 1 crore rupees. Now the bank is in a hurry to raise the loan. If the borrower does not pay the loan, the bank collects the mortgage by auctioning it. On the one hand, the price of mortgages has decreased drastically and on the other hand, there are no people to buy mortgages. This has increased the risk of savers' money sinking. Banks give loans at cheap interest rates