Problematic Cooperative Management Committee Returns Savings to Shiv Shikhar Cooperative Victims

Kathmandu. The Problematic Cooperative Management Committee has returned the savings of small depositors of Shiv Shikhar Cooperative. According to the committee, 248 victims of Shiv Shikhar Cooperative have received their savings back. So far, 1117 depositors of Shiv Shikhar Cooperative have received their money back.

The committee stated that in the first phase, depositors with small savings amounts were refunded. Similarly, depositors will be refunded by classifying them based on their savings amount.

The government has clarified that the money returned to the affected depositors is from the recovery of loans from problematic cooperatives. The process of returning savings to depositors of related cooperatives from the amount received from loan recovery and asset management from problematic cooperative institutions is being continuously operated in accordance with the prevailing legal provisions.