Nepal’s Problematic Cooperative Management Committee has refunded Rs 26.39 million to 1,754 depositors of 10 crisis-hit cooperatives over the past two months, benefiting victims of institutions declared problematic by the federal government, media reports say.
The refunds have been made through a revolving fund created after amendments to the Cooperatives Act, using government seed money and recoveries from defaulting borrowers.
The committee also adjusted savings worth Rs 17.95 million for 141 depositors against outstanding loans and recovered Rs 43.28 million from 154 borrowers. Overall, 1,895 people benefited from refunds and savings adjustments.
However, victims’ representatives have criticised the process, alleging a lack of transparency and equitable distribution, and have urged authorities to ensure proportionate refunds so that all affected depositors receive at least partial compensation.
