Campaign launched to return depositors' savings from three troubled cooperatives

KATHMANDU, June 20: A campaign has been intensified to return the depositors' money from the troubled cooperatives.

The Ministry of Land Management, Cooperative and Poverty Alleviation has accelerated the campaign to return the savings of depositors in the first-phase. 

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

Chairperson of the troubled cooperative management committee, Mohan Gautam, shared that they became successful in returning all savings of depositors of three cooperatives with constant coordination and activism of Minister for Land Management, Cooperative and Poverty Alleviation, Balram Adhikari, and the Ministry. 

Minister Adhikari mentioned that they had been taking initiatives to resolve the problems of other 17 distressed cooperatives. 

He further said they were working actively to return the savings of the depositors by mobilizing the committee effectively.