KATHMANDU: The Office of the Problematic Cooperative Management Committee under the Bagmati Provincial Government has issued a public notice urging borrowers of five troubled cooperatives to settle their outstanding loans by September 16.
According to the notice published on Friday, the committee has called on borrowers from Civil, Darshan, National Namobuddha, Laligurans, and Sumeru Savings and Credit Cooperatives to clear their dues by September 16.
The committee clarified that for those who repay their loans within the deadline, interest and penalties will be calculated based on the day prior to the cooperative being officially declared problematic.
However, for borrowers who fail to repay within the stated timeframe, the principal amount, interest, and penalties will be calculated up to the day before repayment is made, regardless of when the cooperative was declared problematic.
This move is part of the provincial government’s efforts to recover funds and resolve financial distress in cooperatives that have faced significant operational or governance failures.
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