The Troubled Cooperative Management Committee has returned the savings of 341 small depositors of Kantipur Saving and Pashupati Cooperative, while also speeding up the recovery of loans.
The Troubled Cooperative Management Committee has returned the savings of small savers from Kantipur Saving and Credit Cooperative and Pashupati Cooperative. This move has brought some relief to the victims who were waiting to get their money back.
Details of the Savings Returned
According to committee, 334 depositors of Kantipur Saving Cooperative and 7 depositors of Pashupati Cooperative has received their savings back. The government clarified that the money recovered from debtors of these troubled cooperatives is being distributed directly to the victim savers.
Loan Recovery Update
In addition to this, the committee reported that they have recovered money from 65 different borrowers of various cooperatives between Shrawan 1 and Shrawan 15. This active recovery has helped to collect funds to pay back the savers.
The committee explained that in the first phase, they are returning money to savers who had small amount of savings. In next phases, they will classify depositors based on their savings amount and gradually return their money.
Continuous Process Under the Law
The work of returning savings to depositors using funds collected from loan recovery and asset management of troubled cooperatives is going on continuously. This process is being done according to the prevailing legal systems to ensure everyone gets their fair share.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
