The National Cooperatives Regulatory Authority (NCRA) has launched new software to streamline the registration of savings and credit cooperatives through an automated online system.
At the launch event on Wednesday, NCRA Chair Dr. Khagaraj Sharma said cooperatives will now be able to join the Credit Information Center, easing their inclusion in the Deposit and Credit Protection Fund.
He stressed the importance of tackling money laundering by bringing cooperatives under a defined regulatory framework. NCF Vice President DB Basnet called for smooth system management, while NCB CEO Badri Guragain said the platform will strengthen data handling.
Formed in January 2025, NCRA oversees financial cooperatives nationwide.