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, 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.
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.
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.
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.
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.
LALITPUR, July 3: Thieves broke into the office of Kupandol Consumers’ Cooperatives Institute and the office of Gurudwar in Kupandole in Lalitpur Metropolitan City and decamped with Rs 155,000 on Sunday night.
KATHMANDU, June 11: The minimum age to become a member of a cooperative has been set at 16, according to a decision made the Parliament's Finance Committee. The committee unanimously decided the minimum age which is also same age to get a citizenship certificate. The committee changed the age in the proposed bill to amend and integrate laws related to cooperatives from 18 years.
KATHMANDU, Jan 2: Deputy Prime Minister and Minister for Finance, Krishna Bhadur Mahara says the country's development would pick pace through the combined efforts of the government, cooperatives and the private sector.
KATHMANDU, Sept 30: Taking cue from troubled cooperatives that landed into crisis due to weak governance, the government has proposed new measures in the new cooperatives bill to strengthen corporate governance and ensure internal control system in the cooperatives.