Lalitpur. The Problematic Cooperatives Management Committee of Bagmati Province has started refunding the savings of small savers from five troubled savings and credit cooperatives.
Bagmati Province Chief Minister Indra Bahadur Baniya inaugurated the refund program at an event in Lalitpur on Tuesday.
The committee stated that the refund process has begun for 1,766 small savers from Darshan Savings and Credit Cooperative, Sumeru Savings and Credit Cooperative, National Namobuddha Savings and Credit Cooperative, Laligurans Savings and Credit Cooperative, and Civil Savings and Credit Cooperative, all of which were declared problematic.
At the refund inauguration program, Chief Minister Baniya said that the provincial government has taken steps to ensure the safe and systematic refund of the savings of the savers, which had been stalled for a long time.
He also warned that the cooperative operators who misused the savers’ savings would face legal action.
The committee had made public the names of 114 major debtors of these cooperatives on Jestha 22 and urged them to repay the loans taken from the cooperatives immediately.
The Problematic Cooperatives Management Committee reported that there are 14,064 savers with a total claim of Rs 2.38 billion in these five cooperatives.
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