Cooperatives apply for refund of Rs 5.27 billion

लगानी न्यूज

१० असार २०८३, बुधबार ११:५८June 24, 2026

. Six thousand savers have applied to the Cooperative Department of Kathmandu Metropolitan City (KMC) to make necessary efforts to repay Rs 5.27 billion saved. The Department of Cooperatives has informed that the number of applicants for the return of savings is increasing. They have demanded the return of the money from April 17 till now.

Dhruba Kumar Kafle, chief of the department, said that around TAG_OPEN_div_14 30 people have been filing complaints every day and most of the applicants are small savers. Small savers have deposited between one lakh to five lakh rupees. Lately, KMC has started the process to return the money to the savers of the problematic cooperatives on the basis of the complaints received.

Few days ago, KMC has already refunded the amount of 34 savers through Buddha Darshan Savings and Credit Cooperative Limited.TAG_OPEN_div_12 The cooperative has returned the amount to the savers who saved up to Rs 150,000.

According to the department, it plans to refund the amount to those who have saved up to five lakh rupees within the next one month.TAG_OPEN_div_10 Kafle also informed that coordination is underway to return the savings by forwarding the loan recovery process in the case of big savers. The Department of Cooperatives has been registering complaints, discussing and reconciling between the directors and savers.

If consensus is not reached, necessary action will be recommended, the department said.TAG_OPEN_div_8 Currently, there are 1,912 cooperatives in KMC. Only 50 per cent of the total cooperatives regularly hold annual general meetings. The KMC is to initiate legal action against cooperatives registered but not holding its general assembly regularly.