Societal cooperatives declared problematic

Kathmandu, March 20 . The government has declared the Societal Savings and Credit Cooperatives Limited as ‘problematic’.

A ministerial decision to this end was taken by the Minister for Land Reforms, Cooperatives and Poverty Alleviation as per Clause 104 (1) of the Cooperatives Act, 2074.

The problematic cooperatives limited management committee has been designated to oversee the management and liability payment related works of the Limited.

The Limited has been operating since 2056 B.S. following registration at the Division Cooperatives Office, Kathmandu.