Kathmandu. Due to the post-merger scandal seen in the institution, Nerude and Mirmire Microfinance Financial Institution are on the verge of bankruptcy. Due to the merger of the former Nerude and Mirmire Microfinance, Nerude has reached the verge of bankruptcy due to the post-merger scandal in Mirmire Microfinance. 

After the merger, the organization has not been able to run smoothly due to the employee agitation caused by the post-merger scandal within the organization. This has been accepted by Bhojraj Basyal, Chief Executive Officer of Microfinance (CEO). Talking to Finance Concern, he admitted that the organization could not run smoothly due to the mess created by the post-merger. 

While the CEO of the organization itself is saying that the organization is not able to run smoothly, the condition of the organization in the raw financial statement of the first quarter of the current fiscal year published by the microfinance company clearly shows that the organization is on the verge of going bankrupt . 

According to the financial details of the microfinance company, the net profit of Rs. 1.90 crore in the last fiscal year Nerude has incurred a loss of Rs. 26.11 crore till mid-October of the current fiscal year.

Not only did the microfinance go into losses during the review period, but the bad loans of microfinance increased from to percent from 16.14 percent. Experts say that this has greatly deteriorated the recovery of the organization and this is why the organization is on the verge of bankruptcy.