The Problematic Cooperatives Management Committee has returned money back to 105 small depositors of four troubled cooperatives.
The Problematic Cooperatives Management Committee has returned the money of 105 small depositors who saved their money in four troubled cooperatives. According to committee, refunds were provided to 35 depositors of Shiva Shikhar Cooperative, 2 depositors of Oriental Cooperative, 13 depositors of Tulsi Bahumukhi Cooperative, and 55 depositors of Kantipur Cooperative.
Refund Process and Future Plans
The government informed that victimized depositors are getting their money from amount collected through loan recovery and asset management of these troubled cooperatives. In first phase, committee focused on returning money to depositors who had smaller amounts of savings.
Now, the committee planned to classify remaining depositors based on their savings amount and refund them gradually. The process of recovering loans, managing assets, and returning money to depositors as per legal rules is being carried out continuously.
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.
