Cooperative depositors await billions as repayment efforts fall short
Summary
Thousands of cooperative depositors across Nepal are still waiting to recover their savings despite a government relief fund and repeated assurances of repayment. Victims say the payouts have been too small and too slow, while nearly Rs 46 billion remains owed nationwide.
Key Points
- Around 76,000 depositors are owed nearly Rs 46 billion, but only about 11,000 have received full or partial repayments so far.
- A government relief fund of Rs 650 million has been created, with vulnerable savers prioritized for payments of up to Rs 500,000.
- Victims of Delight Multipurpose Cooperative and other troubled cooperatives say court rulings and cheques have not led to actual repayment.
- Authorities are considering special police units and court benches as complaints continue to pile up and recovery efforts lag.
