BAGLUNG, Jan 7: The mayor of Dhorpatan Municipality, Dev Kumar Nepali, accused of swindling the common people out of about Rs 2.25 billion, is yet to be arrested, due to protection from the political and police administration.

In the wake of mounting concerns and grievances from depositors entangled in the web of troubled cooperatives, the government's recent directive to these cooperatives to submit their work plans by mid-April is a welcome step. However, it is imperative that the concerned government bodies expedite their efforts and take decisive actions to address the deep-seated issues plaguing the cooperative sector in Nepal.

KATHMANDU, Dec 28: The government has asked the problematic cooperatives to submit their work plan to return the money of their member depositors by mid-April this year.

KATHMANDU, June 29: Depositors have lost billions of rupees due to the lack of effective regulation of cooperative institutions by the government. Due to the lack of effective regulation of cooperatives, deposits worth billions of rupees are at risk after several cooperative operators invested recklessly.

KATHMANDU, July 30: Former Finance Minister has said that the problem of liquidity crunch will not be solved unless some measures are introduced to encourage depositors to not withdraw their money from the banking system.

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, Aug 7: While the government launched Social Security Fund (SSF) eight months ago with much fanfare, people are still attracted toward Employment Provident Fund (EPF), data shows.

KATHMANDU, Nov 14: The Employees Provident Fund and Rastriya Beema Sansthan have signed a memorandum of understanding for providing insurance of up to Rs 100,000 for general medical and Rs 1 million for treatment of terminal diseases to the PF depositors.

POKHARA, June 21: Depositors have demanded that the management of Kailash Development Bank refund their stolen deposits as the money was withdrawn from their bank accounts using fake signature.

KATHMANDU, Sept 25: Sunrise Bank has introduced 'Group Personal Accidental Insurance Policy for Saving Depositors' in coordination with Shikhar Insurance.