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6 sources · 9 articles
Started 1 week ago · Updated 5 days ago

Government begins refunding small depositors of troubled cooperatives

Photo · english.nepalnews.com

The government has initiated the process of refunding deposits to small savers affected by troubled cooperatives. On Monday, the Problematic Cooperative Management Committee disbursed funds to 378 depositors from three cooperatives, prioritizing those with smaller savings. This initiative is part of a broader effort to address the cooperative sector crisis, with loan recovery efforts also being intensified to facilitate further repayments.

  • The initial refunds on Monday benefited 215 depositors from Kantipur Cooperative, 156 from Shiva Shikhar Multipurpose Cooperative, and seven from Pashupati Cooperative.
  • Approximately 76,000 depositors are collectively owed around Rs 46 billion, with the majority classified as small savers (deposits under Rs 500,000).
  • Around 18,000 depositors fall into the large saver category, holding deposits exceeding Rs 500,000.
  • Borrowers of troubled cooperatives have repaid over Rs 20 million, with loan recovery and deposit refunds proceeding simultaneously.

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Pratibha Rawal Problematic Cooperative Management Committee Kantipur Cooperative Shiva Shikhar Multipurpose Cooperative Pashupati Cooperative

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