The Problematic Cooperative Management Committee has refunded the savings of small depositors of Kantipur Savings and Credit Cooperative and Pashupati Cooperative.
According to the committee, 334 depositors of Kantipur Cooperative and seven depositors of Pashupati Cooperative have received refunds of their savings.
The government clarified that the funds recovered from the loans of problematic cooperatives were used to reimburse the victimized depositors.
The committee also said that between July 17 and July 31, it recovered outstanding loans from 65 borrowers associated with various cooperatives.
According to the committee, depositors with smaller savings were refunded in the first phase. Subsequently, refunds will be distributed by categorizing depositors based on their savings amounts.
The committee said that the process of returning savings of depositors of troubled cooperatives is being carried out continuously in accordance with existing legal provisions, using funds generated from loan recoveries and the management of assets belonging to troubled cooperatives.
