The Problematic Cooperative Management Committee has successfully returned savings to 42 small depositors from Shiva Shikhar and Pashupati cooperatives.
The Problematic Cooperative Management Committee has begun the process of returning funds to small savers of Shiva Shikhar and Pashupati cooperatives, which previously faced various issues.
As per the committee’s report, fourteen individuals from Shiva Shikhar Cooperative received their saved money back, while twenty-eight depositors from Pashupati Cooperative also got their funds. The government clarify that this money collected from recovering loans of the troubled cooperatives is being used to repay the affected depositors.
The committee further explained that this initial phase focused on repaying savers with smaller amounts first. They plan to continue this effort, classifying and returning money to other depositors in phases, based on the size of their original deposits.
This process of returning savings to members from funds gathered through loan recovery and asset management of the problematic cooperative institutions is actively continuing, following all existing legal provisions.
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.
