KATHMANDU, Nov 8: The government has decided to blacklist 11 financially troubled cooperatives which have been unable to pay back the money of their member depositors.

KATHMANDU, Nov 1: The Kathmandu Metropolitan City (KMC) has received complaints from 633 member depositors against five cooperatives accused of embezzling a total of Rs 40.05 million.

KATHMANDU, Sept 21: The Department of Cooperatives (DoC) has cautioned the cooperatives not to increase the interest rates on their own.

KATHMANDU, Sept 10: The Kathmandu Valley-based cooperatives have geared up for merger mainly after the cooperatives started to face the problem of liquidity crunch recently.

KATHMANDU, Sept 5: The Department of Cooperatives (DoC) has endorsed new guidelines for the cooperatives looking for their merger. The new guidelines seek to prevent rampant merging of cooperatives in the aftermath of the cooperatives facing financial problems.

Five cooperatives ink merger deal

August 29, 2022 06:20 am

KATHMANDU, August 29: Nepali cooperatives have stepped up efforts for merger at a time when a large number of banks and insurance companies have been looking forward to unification.

KATHMANDU, August 17: The Department of Cooperatives (DoC) has barred cooperatives from issuing loans in real estate businesses, citing soaring liquidity crisis and increasing number of cooperatives falling into problems due to their excessive exposure on realty investment.

KATHMANDU, August 12: The National Cooperative Federation of Nepal (NCF) has urged its member cooperatives not to distribute cash dividends to their members, citing the ongoing liquidity shortage in the cooperatives.

KATHMANDU, August 8: Due to the current liquidity crisis in the country’s financial sector, the member-savers of cooperatives will be able to withdraw only 5 percent of their deposits at a time. The umbrella organizations of the cooperatives have made such a call saying that when all the members demand the return of the savings kept in the cooperatives, there will be an imbalance in the payment process.

KATHMANDU, August 5: The Department of Cooperatives (DoC) has recommended the government to declare Gautam Shree Multipurpose Cooperative as ‘problematic’.

KATHMANDU, August 3: The National Cooperative Federation of Nepal (NCF) has cautioned cooperatives not to invest in unproductive businesses, citing the liquidity crunch seen in the cooperatives.

KATHMANDU, July 30: Gautam Shree Multipurpose Cooperative of Kathmandu is accused of not returning the money deposited by its members as directors of the cooperatives are suspected to have embezzled the depositors’ money.

KATHMANDU, July 4: Cooperatives will now have to report their financial transactions online on a regular basis to the regulator or they will be punished, said the Department of Cooperatives (DoC).

KATHMANDU, June 26: The Credit Information Bureau (CIB) Nepal blacklisted four cooperatives in the past two weeks after they failed to pay loans taken from banks and financial institutions and National Cooperative Bank within the stipulated time.

KATHMANDU, June 1: The Department of Cooperatives (DoC) has received complaints against 41 Kathmandu based cooperatives for embezzling the money deposited by their members.

KATHMANDU, April 8: The Kathmandu Metropolitan City (KMC) received and registered complaints against 18 cooperatives operating in Kathmandu in four months from mid-November 2021 to mid-March 2022.

KATHMANDU, April 7: The Kathmandu Metropolitan City (KMC) received and registered complaints against 18 cooperatives operating in Kathmandu in four months from mid-November 2021 to mid-March 2022.

KATHMANDU, Feb 20: Cooperatives look forward to raising their reference interest rate to 16.22 percent from the current 14.75 percent per annum, citing a surge in the banks’ interest rates in recent days.

KATHMANDU, Feb 15: The government has made it mandatory for cooperatives to invest at least 51 percent of their lending in the production sectors in a bid to restrict rampant lending by the organizations to private companies.

KATHMANDU, Feb 7: Nepal Cooperative Bank Limited (NCBL), has stepped up preparations to receive the operating license from Nepal Rastra Bank, claiming it has to deal with the financial matters of around 30,000 cooperatives operating across the country.

KATHMANDU, Jan 28: An agreement has been signed between the government and the Nepal Agricultural Cooperative Central Federation Ltd (NACCFL) for the capacity building of 100 cooperatives in eight districts of Karnali (Salyan, Jajarkot, Jumla, Dailekh, Kalikot, West Rukum, Surkhet and Mugu).

KATHMANDU, Jan 9: The government has ruled out raising the reference interest rate for cooperatives at a time when the cooperatives operators have been lobbying the government bodies to hike the interest rate.

KATHMANDU, Dec 27: National Cooperative Bank Limited (NCBL) has set up a liquidity management fund worth Rs 2 billion, citing to help those cooperatives facing the problem of liquidity crunch.

KATHMANDU, Dec 20: While many Valley-based cooperatives time and again court controversies for embezzling depositors’ money, a number of cooperatives operating in the country’s rural areas have been providing low-income and economically disadvantaged people an easy access to financial resources.

KATHMANDU, Dec 13: Cooperatives, member-based local organizations that are supposed to work in the interest of the general public, have instead been found cheating the small savers time and again, thanks to poor monitoring by the regulator.

KATHMANDU, September 15: The Kathmandu Metropolitan City (KMC) registered complaints against 27 cooperatives accused of embezzling their members’ deposits worth around Rs 440 million in the last fiscal year.

KATHMANDU, September 11: The government is making it mandatory for the cooperatives to invest 50 percent of their loans in agriculture.

KATHMANDU, August 16: Finance Minister Janardan Sharma has urged the savings and credit cooperatives to inject 60 percent of the investment in the productive sector.

KATHMANDU, July 27: Insurance businesses and cooperatives with larger transactions are now required to abide by the anti-money laundering (AML) system as the regulators of these sectors have asked these businesses to come within the framework from the fiscal year 2021/22.

Build Back Better with Cooperatives

July 24, 2021 14:15 pm

Cooperatives in Nepal offer a wide range of services, including savings and credit, insurance and non-financial services. Their achievements in the field of socio-economic development of the members indicate that they can grow as cooperative players in the development of Nepal.

Cooperative for development

February 21, 2021 07:00 am

If proper environment is created for cooperatives to work in remote areas, it would be easier to bring rural areas in mainstream of development.

KATHMANDU, Jan 6: Cooperatives have been mobilizing Rs 477.96 billion deposited by their members, which accounts for more than 11 percent of the total deposits collected by the commercial banks.

KATHMANDU, Dec 8: The Department of Cooperatives has barred the primary cooperatives from taking service fees not more than one percent of the loan amount from the borrowers.

KATHMANDU, Sept 24: Cooperatives played a notable role in bringing farm products from the rural to the urban areas, which helped maintain the supply and price stability of the essentials in the market, said the stakeholders of the sector.

KATHMANDU, Aug 23: The government has identified cooperatives as one of the three pillars of the Nepali economy, which have been handling a large chunk of financial resources of the country. However the sector has been left less integrated to banks and financial institutions that has led to high exposure of risks, said stakeholders of the cooperatives sector.

KATHMANDU, Aug 11: The government has come up with yet another directive for the monitoring and regulation of savings and credit cooperatives at a time when the oversight agencies have been struggling to enforce the provisions made in similar other laws for the sector.

KATHMANDU, Sept 12: Minister for Land Management, Cooperatives and Poverty Alleviation Padma Kumari Aryal said the government has adopted a policy to increase the number of agro-based cooperatives by slashing savings cooperatives.

KATHMANDU, Sept 5: Minister for Cooperatives and Poverty Alleviation Padma Aryal has urged the people involved in the field of cooperatives to invest in productive sectors.

KATHMANDU, Aug 3: The government has capped the lending rate for cooperatives at 16%.

KATHMANDU, April 23: The government has set standards on registration of new savings and credit cooperatives amid concerns about their growing concentration in urban areas.

CHITWAN, April 21: Former Prime Minister and Nepal Communist Party Chairman Pushpa Kamal Dahal has said cooperatives' role should be augmented to ensure economic prosperity and socialism-oriented State with social justice.

Cooperatives have Rs 302 billion saving

January 11, 2019 14:40 pm

KATHMANDU, Jan 11:  The cooperatives have collected savings of Rs 302 billion, the National Cooperative Federation of Nepal (NCFN) has said.

CHITWAN, Aug 5: Prabhat Didibahini Savings and Credits Co-operative of Bharatpur Metropolitan City-12 was robbed on July 29. Head of the co-operative Saraswati Kalita Shah said that Rs 548,660 in cash was looted from a metal safe in the co-operative office.

KATHMANDU, July 24: Nepal Rastra Bank (NRB) has released all 14 cooperatives that had received the license to carry out limited banking services from its supervisory and regulatory domain. The NRB and other stakeholders have urged the government to form a separate ‘second-tier institution’ to supervise and regulate those cooperatives as well as other companies that provide banking and financial services.

KATHMANDU, July 8: Minister for Agriculture, Land Management and Cooperatives Chakrapani Khanal has said that land fragmentation has become a big challenge to the government's efforts of increasing agro production.

BANEPA, Jun 1: Minister of State for Communications and Information Technology, Gokul Prasad Baskota, has sought a proper guidance from the cooperatives movement to the government when constitution has set its target of developing a socialism-oriented national economy.

KATHMANDU, May 23: Dairy cooperatives in five districts have reduced milk collection from farmers, stating that dairy companies were not buying milk supplied by them.

KATHMANDU, Jan 23: The Ministry of Cooperatives and Poverty Alleviation has formed a seven-member management committee to take over and manage the 'troubled' Oriental Cooperatives Limited.

HETAUDA, Aug 18: Cooperative organizations in Makawanpur district have done dairy transaction of Rs 796.3 million in Fiscal Year 2016/17.

PALPA, July 31: Registration of 15 cooperatives in Palpa, Gulmi and Syangja was scrapped in Fiscal Year 2016/17.