Government Intensifies Loan Recovery from Cooperatives
Summary
The government has intensified loan recovery from cooperative institutions, recovering about Rs 11 crore in 27 cases through the Loan Recovery Tribunal Office. The office says it is speeding up hearings and adjudication to improve financial governance and reduce court burden.
Key Points
- The government has intensified recovery of unpaid loans from cooperative institutions through the Loan Recovery Tribunal Office.
- As of October 15, about Rs 11 crore had been recovered in 27 cases through settlements and execution of judgments.
- Office Chief Achyut Shrestha said the tribunal has authority to conduct initial proceedings and adjudicate cooperative loan recovery cases.
- The office aims to improve financial governance, resolve loan disputes efficiently, and reduce the burden on courts.
