Kathmandu: The Problematic Cooperatives Management Committee has successfully refunded the savings of 248 small depositors associated with Shiva Shikhar Cooperatives Limited. This refund marks a significant step in addressing the financial concerns of individuals who have entrusted their money to the cooperative.
According to National News Agency Nepal, the committee has, to date, refunded the savings of a total of 1,117 depositors. The current phase focused on returning the savings of small depositors, and plans are underway to refund the remaining depositors. The classification of depositors based on the amount of their savings will determine the sequence of future refunds.
The government has assured depositors that the funds are being returned following the recovery of loans and effective property management from the cooperative. This strategy aims to ensure that the financial obligations of the troubled cooperative are addressed systematically and transparently.