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
Here is the foreign currency exchange rate for today
Kathmandu. Nepal Rastra Bank has determined the exchange rate of foreign currency for today. According to Rashtra Bank, the buying rate of one US dollar has been fixed at 152 rupees 67 paisa and the selling rate is 152 rupees 27 paisa.
The b...
The value of the US dollar, Euro and Australian dollar has increased, such is the exchange rate
Kathmandu. Nepal Rastra Bank has determined the exchange rate of foreign currency for today. According to Rashtra Bank, the buying rate of one US dollar has been fixed at 147 rupees 92 paisa and the selling rate is 148 rupees 52 paisa. On Wednesda...
Kimathanka Arun hydropower project will be built with indigenous capital, investment modality decided
Kathmandu. The investment modality has been decided to build the Kimathanka Arun semi-reservoir hydropower project with a capacity of 454 MW identified in Bhotkhola rural municipality-2 of Sankhuwasabha with indigenous capital. The estimated cost...