Kathmandu. The government has given priority to the return of deposits of small savers of troubled cooperatives. Since most of the savers who have deposited small amounts in the problematic cooperatives, the issue of returning their money has been given more importance.
Those with less than five lakh rupees are categorized as small savers and those above five lakhs as large savers. Joint Secretary at the Ministry of Land, Cooperatives, Federal Affairs and General Administration, Ganesh Prasad Bhatta, said that the government has started returning the money to the depositors of the problematic cooperatives with less than Rs 10,000.
It is also being said that the work of recovering the loans of the problematic cooperatives is also being done to return the savings of the depositors. About 76,000 savers are in trouble with about Rs 46 billion. The Ministry has also urged the Ministry of Finance for resource management that has prepared a working procedure for the operation of the revolving fund with the objective of returning the money to the cooperatives victims.
Similarly, the Ministry has started the process to return the money of small savers of 378 cooperative members through the Cooperative Management Committee from Monday. The government has returned the deposits of 215 small savers of Kantipur Cooperative, 156 of Shivashikhar Multipurpose Cooperatives and seven of Pashupati Cooperatives. According to the ministry, the money has been returned to the savers who have been verified by the bank.
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