Bagmati Province Government Starts Returning Savings to Small Depositors of 5 Problematic Cooperatives

Kathmandu. The office of the Problematic Cooperative Management Committee under the Bagmati Province Government has started the process of returning savings to small depositors of 5 different cooperatives declared problematic within the province.

The committee has informed through a press release that the process of returning savings will begin on Tuesday, Asar 30, 2083. The Chief Minister of Bagmati Province, Indrabahadur Baniya, will inaugurate the return of savings in the assembly hall of the Bagmati Province Good Governance Center located in Jawalakhel.

According to the committee, the cooperatives from which savings will be returned are Civil Savings and Credit Cooperative Institution of Soltimode, Darshan Savings and Credit Cooperative Institution of Kirtipur, Sumeru Savings and Credit Cooperative Institution of Pulchok, National Namobuddha Savings and Credit Cooperative Institution of Samakhusi, and Laligurans Savings and Credit Cooperative Institution of Khusibu. 

Savings up to 1 Lakh to be Returned

According to the committee, small depositors of these five problematic cooperatives have been prioritized in the first phase. Under this, the committee has stated that savings up to a maximum of 1 lakh rupees per depositor will be returned.  

The committee believes that this step will provide some relief to the general public who have been in trouble for a long time without receiving their deposits back.

Subas Upreti, Information Officer of the committee, informed that the provincial government is working with priority to solve the problems of the victims of problematic cooperatives.