. Kathmandu – The Cooperative Department of Kathmandu Metropolitan City (KMC) has started monitoring the cooperatives under its jurisdiction.

As per Chapter 16 of the Cooperative Act 2074, supervision, inspection, monitoring and regulation have been formally started for the fiscal year 2081÷082.

As the monitoring and inspection teams formed by the Department of Cooperatives are present for on-site inspection of cooperatives, 14 types of documents, records and information details have been asked to be kept ready. The monitoring team has also requested to provide the documents at the time requested.

During the monitoring, the cooperative has asked for a copy of the cooperative society registration certificate, bye-laws (with amended copy if amended), annual general meeting and special general meeting decision reports, details of the board of directors and accounts supervision committee, member registration book and member details.

Similarly, share capital statement, savings and loan transaction records, loan investment file (loan agreement, collateral documents, installment schedule, etc.), audit report of the current fiscal year and previous years, bank account details and bank statements, employee details (appointment letter, responsibility remuneration details), internal control system related documents, directives from NRA, Department and Metropolitan City, circular and implementation status and other necessary documents and information (as demanded by the team) are required ।

It has urged all the concerned cooperatives to keep the documents and details ready and facilitate the inspection team and provide the necessary information.