Cooperative scam: Governor suggests three-tier classification for returning cooperative funds « Khabarhub
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Cooperative scam: Governor suggests three-tier classification for returning cooperative funds


08 July 2024  

Time taken to read : 2 Minute


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KATHMANDU: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has suggested a three-tier classification system based on savings amounts to facilitate the return of funds to cooperative savers.

During a meeting of the parliamentary investigation committee on cooperative savings held at Singha Durbar on Monday, Governor Adhikari proposed categorizing savers into three groups: those with savings up to RS 100,000, those with savings up to Rs 500,000, and those with more than Rs 500,000.

This classification aims to streamline the process of returning funds.

Committee coordinator Surya Thapa stated that Governor Adhikari also suggested forming a special task force to address troubled cooperatives.

Governor Adhikari identified several issues plaguing cooperatives, including the absence of geographical limits, unrestricted savings collection, insufficient regulation, and inadequate supervision.

Coordinator Thapa mentioned that the committee has also consulted with representatives from the Bankers Association, Credit Information Centre, and the latest Cooperative Suggestions Committee.

During the discussions, the idea of creating a unified Credit Information Centre was suggested.

The committee plans to hold discussions with former registrars of the Cooperative Department in its next meeting.

Coordinator Thapa emphasized that they are committed to recovering the savings of cooperative victims directly from the cooperative institutions themselves.

 

 

Publish Date : 08 July 2024 17:15 PM

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