National Cooperative Regulatory Authority Registers Nearly 2,300 Cooperatives
Summary
The National Cooperative Regulatory Authority has registered nearly 2,300 cooperatives, enforcing regulations to ensure transparency and reliability in the cooperative savings and credit sector across Nepal.
Key Points
- The National Cooperative Regulatory Authority has registered approximately 2,300 cooperatives across Nepal.
- The Authority is responsible for regulating, monitoring, and supervising cooperatives engaged primarily in savings and credit.
- Cooperatives operating without registration/documentation with the Authority are considered illegal and face halted audits and renewals.
- Savings and credit cooperative institutions are mandated to obtain membership in the Credit Information Center for information exchange per the Cooperative Act 2074.
