Kathmandu. The government has refunded the money to 304 small savers of the troubled cooperatives.

The problematic cooperative management committee today returned the savings of small savers of Agriculture Cooperatives and Shiva Shikhar Multipurpose Cooperatives.

According to the committee, 88 savers of Agriculture Cooperatives and 216 of Shiva Shikhar Multipurpose Cooperatives have received back their savings today.

Earlier, the committee had refunded the amount of 378 small savers including 215 of Kantipur Cooperative, 156 of Shiva Shikhar Multipurpose Cooperatives and seven of Pashupati Cooperative.

According to the committee, in the first phase, the amount was returned to the savers who had a small amount of savings. In the same way, the amount will be returned by classifying the amount of the saver respectively.

According to the committee, about Rs 46 billion has to be returned to the savings of about 76,000 savers of the problematic cooperatives. Most of them are small savers.

Savings of less than five lakh rupees are categorized as small savers and those above five lakh are categorized as large savers. Of the total 76,000 saved, only 18,000 are those who save more than Rs 500,000, according to the committee.