The Problematic Cooperative Management Committee has returned savings to 223 depositors of four troubled cooperatives, according to reports from Kathmandu. The cooperatives are Shiva Shikhar, Kantipur, Krishi Vikas and Gorkha.
The committee said the refunds were made using funds recovered through loan collection and asset management. Small depositors were given priority in this first phase of repayments.
Refunds from recovered funds
The return of savings is part of efforts to repay members affected by the cooperatives’ financial difficulties. The committee said it used money collected from borrowers and recovered through the management of assets.
