Kathmandu. Members of Laxmi Microfinance Financial Institution Limited will now be able to repay their loans in installments and savings through ESEWA. ESEWA has been linking the payments of microfinance companies to ISEWA with the objective of digitizing micro-entrepreneurs in rural areas as well.
The online payment agreement was signed by Chief Executive Officer Subash Sapkota on behalf of ESEWA and Chief Executive Officer Prakash Raj Sharma on behalf of Laxmi Microfinance.
Members with eSewa account will be able to pay regular installments and savings from their mobiles while members who do not have eSewa account will be able to pay from the nearest eSewa zone, point and eSewa marked agent.
At the same time, it will save time for microfinance members to travel to the microfinance office carrying cash to repay the loan installment and will also reduce other expenses. There is no charge for the first three months of Laxmi Microfinance.
It is said that the risk of infectious diseases like corona will be reduced as there is no need to go in crowds in the current difficult situation.
Esewa is the first payment service provider company in Nepal. More than two thousand services including mobile, telephone, internet, electricity and drinking water tariff, recharge, airplane, bus ticket, school and college fees can be paid through this service.
ESEWA currently has 50 members in banks and financial institutions. You can easily deposit money in Esewa from these banks and send money to the bank account from Esewa.
Lakshmi Microfinance Institution is a national level microfinance institution. It is a subsidiary of Lakshmi Bank Limited and has 72 branches. The organization has so far invested Rs 5.5 billion in loans and has saved more than Rs 1.5 billion.