More than 6,300 depositors have sought the return of savings worth Rs 4.77 billion from cooperatives registered under the Kathmandu Metropolitan City, reflecting mounting pressure on cooperative institutions in Kathmandu, media reports say.
According to the Cooperative Division, most complainants are small-scale savers with deposits ranging between Rs 100,000 and Rs 500,000. Division Chief Dhruv Kumar Kafle said around 500 to 1,000 complaints are being filed daily, with small depositors accounting for nearly 78 percent of total complaints.
Amid the growing crisis, Buddha Darshan Savings and Credit Cooperative Ltd., based in Ward No. 6, has started refunding deposits of up to Rs 150,000 and plans to clear deposits up to Rs 500,000 within a month.
Authorities said coordination is underway with the Department of Cooperatives to facilitate repayments and loan recovery. Officials are also mediating between depositors and cooperative operators, while legal action may be recommended if settlements fail.
