Asset confiscation, bank account freezing and foreign travel ban if the co-operative fund is not returned
-
Media Baaji
- Sat, 4 July 2026
Kathmandu. To make the cooperative sector more orderly, transparent and accountable, the government has brought forward a new process through the bill. The government passed the Cooperatives First Amendment Bill, 2083 in the House of Representatives and proceeded with the process of reforming the policy issues seen in the cooperative sector. In particular, comprehensive reforms will be made in relation to deposit refund, regulation, registration process and scope of work.
A bill has been introduced to bring the directors and managers involved in misappropriation and embezzlement of cooperative savings funds under the strict legal framework.
The government has also said that by confiscating the property of the guilty operators and speeding up the debt recovery process, the money of the victim savers will be returned.
Express
Related News
What is the exchange rate of which foreign currency on Saturday?
Kathmandu. Nepal Rastra Bank has determined the exchange rate of foreign currency for today. According to the fixed exchange rate, the buying rate of one US dollar is 143 rupees 97 paisa and the selling rate is 144 rupees 57 paisa. Similarly, the...
The upcoming budget will focus on economic transformation: Finance Minister Dr Wagle
Kathmandu. Finance Minister Dr Swarnim Wagle has said that the budget to be presented on May 15 will focus on economic transformation. Finance Minister Wagle clarified the government's opinion on the current economic, political and contemporary is...
Prime Minister's directive to facilitate payment of dedicated trunkline tariffs
Kathmandu. The Prime Minister's Office has instructed the Ministry of Energy and the Nepal Electricity Authority to facilitate the payment of fees for the dedicated trunk line. The Prime Minister's Office has sent a le...
What is the exchange rate of which foreign currency on Wednesday?
Kathmandu. Nepal Rastra Bank has determined the foreign currency exchange rate for Wednesday. The value of the US dollar has increased according to the fixed exchange rate. The buying rate of one US dollar is 149 rupees 31 paisa and the selling ra...
There is no shortage of gas in the market: Nigam
Kathmandu. In Nepal, the Oil Corporation has stated that there is no shortage of LP gas for cooking in the market as it has been regularly supplied. India's Barauni Refinery Center was closed for a week for repairs and it took time to supply gas f...
Nabil Bank won the Trishuli hydropower case in the Chinese court
Kathmandu. Nabil Bank Limited has succeeded in the case related to the counter guarantee of the Trishuli Hydropower Company Limited project in the Chinese court. Nabil Bank said that after the Chongqing Higher People's Court of China ruled in favo...