NRB to return depositors’ money up to Rs 500,000 using cooperatives’ operators’ assets as collateral

KATHMANDU: Nepal Rastra Bank (NRB) has announced a plan to return depositors’ money up to Rs 500,000, using the assets of cooperatives’ operators and their family members as collateral.

This announcement was made by Governor Maha Prasad Adhikari during the unveiling of the monetary policy for fiscal year 2081/82 on Friday.

The policy is aimed at addressing issues within the cooperatives sector.

Previously, while presenting the budget for the fiscal year, then Finance Minister Barsaman Pun had also promised to return depositors’ funds up to Rs 500,000.