Problematic Cooperatives Return Savings to Small Depositors

Kathmandu. The Problematic Cooperative Management Committee has recently returned savings to small depositors of Kantipur Saving and Pashupati Cooperatives. According to the committee, 334 depositors of Kantipur Saving Cooperative and seven individuals from Pashupati Cooperative have received their savings back. The government has clarified that the amount returned to the affected depositors was obtained from the recovery of loans from problematic cooperatives.

Similarly, the Problematic Cooperative Management Committee has stated that an amount was recovered from 65 debtors from various cooperatives between July 16 and July 30. According to the committee, in the first phase, depositors with small savings amounts were refunded. In this manner, refunds will be made sequentially based on the classification of depositors according to their savings amount.