Problematic Cooperatives Return Savings to Small Depositors
Summary
Problematic cooperatives have returned savings to small depositors of Kantipur Saving and Pashupati Cooperatives in Kathmandu. The refunds were funded through loan recovery and will continue in sequence based on deposit size.
Key Points
- 334 depositors of Kantipur Saving Cooperative and seven individuals from Pashupati Cooperative have received their savings back.
- The returned money came from loan recoveries from problematic cooperatives, according to the government.
- The committee said 65 debtors were recovered from various cooperatives between July 16 and July 30.
- Refunds will continue in phases, starting with depositors who had smaller savings amounts.
