Government Committee Returns Savings to Cooperative Members

Kathmandu. The Problematic Cooperative Management Committee is managing the assets and liabilities of cooperatives declared problematic by the Government of Nepal and regularly returning funds to depositors. Depositors are being repaid by prioritizing according to the Cooperative Act, 2074, the directive order of the Supreme Court, and the 100-point declaration of the Government of Nepal.

The committee has been providing funds once a year to depositors who are senior citizens aged 70 years, depositors with life-threatening diseases certified by a licensed physician, single women, and fully disabled or incapacitated depositors. Similarly, depositors with savings of more than five hundred thousand rupees have started receiving regular savings refunds, with a maximum of 50 percent not exceeding at one time.