KATHMANDU, June 18: The Problematic Cooperatives Management Committee recovered loans worth more than Rs 120 million and returned Rs 5.9 million to depositors during the month of Jestha (mid-May to mid-June).
According to the committee’s office, savings of 1,452 depositors with balances below Rs 10,000 from eight troubled cooperatives were returned during the review month. The refunds were made from the amounts recovered from the respective cooperatives.
The office said the committee has approved the Savings Refund, Loan Recovery and Asset Management Procedure, 2026 and has begun implementing it under the Problematic Cooperative Institutions Restructuring and Management Procedure, 2026.
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In accordance with the new procedures, a public notice has been issued to manage and restructure troubled cooperatives. The office also approved a new organizational structure, assigned staff responsibilities, and deployed personnel to carry out restructuring activities.
The committee stated that it has been regularly identifying borrowers of troubled cooperatives, freezing their assets where necessary, and preparing and publishing detailed records covering three generations of the borrowers’ family. It added that verification of around 44,000 remaining claims for refunds is being carried out in phases.
Among 14 cooperatives required to return deposits below Rs 10,000 to small savers, the refund process has been completed in six cooperatives. Refunds are continuing on a daily basis, while records of repayments made through third parties in two cooperatives are currently being compiled.
The office said claim verification is underway for the remaining cooperatives. A separate help desk has also been established to verify and revise claims of depositors.
Similarly, the committee stated that a team has been mobilized with a strategic plan to trace the assets of operators, managers, former officials, and other individuals linked to cooperative fund embezzlement.
