KATHMANDU: The government has announced a plan for the merger of Savings and Credits Cooperatives.

Presenting the budget for the coming fiscal year, Finance Minister Yubaraj Khatiwada said that the cooperatives would be encouraged for merger.

He also informed that cashless transactions will be encouraged in the cooperatives using modern technology.

It is noted that Khatiwada was the focal person who brought bank merger policy during his tenure as the Governor of Nepal Rastra Bank. He has now taken the policy of merging cooperatives as a finance minister now.