Depositors' savings returned from three troubled cooperatives

KATHMANDU, JUNE 20: A campaign has been intensified to return depositors' money from troubled cooperatives. The Ministry of Land Management, Cooperatives, and Poverty Alleviation has accelerated the campaign to return depositors' savings in the first phase.

Out of the 20 cooperatives declared troubled by the Ministry at the recommendation of the Cooperative Department, the property management and liabilities of Kuber Saving and Credit Cooperative, Chartered Saving and Credit Cooperative Limited, and Standard Multi-Purpose Cooperative have been sorted out, according to the Ministry.

The Chairperson of the troubled cooperative management committee, Mohan Gautam, shared that they had successfully returned all the savings of depositors from the three cooperatives through the constant coordination and activism of the Minister for Land Management, Cooperatives, and Poverty Alleviation, Balram Adhikari, and the Ministry.

Minister Adhikari mentioned that they had been taking the initiative to resolve the problems of the other 17 distressed cooperatives. He further said they were actively working to return the savings of the depositors by effectively mobilizing the committee.