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.
Related News
Gold prices moderate, silver continues to set new records
Kathmandu. As the price of gold fell in the Nepalese market on Sunday, the price of silver remained at the highest price ever. According to the Federation of Nepal Gold and Silver Dealers, today the price of printed gold has decreased by 100 rupee...
Jan Utthan Laguvitta will not distribute dividends this year as well
Kathmandu. Jan Utthan Community Small Finance Financial Institution Limited will not distribute dividends to the shareholders from the profit of the last financial year. The meeting of the microfinance board of directors held on 26th January decid...
Ministry's directive to refund fees collected illegally from students
Kathmandu. The Ministry of Education, Science and Technology has directed all concerned to refund the illegally collected fees to the students. The ministry issued a statement on Wednesday and directed some institutional schools to return the amou...
What is the exchange rate of which foreign currency on Saturday?
Kathmandu. Nepal Rastra Bank has determined the foreign currency exchange rate for Saturday. According to the determined exchange rate, the buying rate of one US dollar is 146 rupees 88 paisa and the selling rate is 147 rupees 48 paisa. Similarly,...
4 points of agreement between the agitating sugarcane farmers and industrialists in Sarlahi, to be paid within a month
Surlahi. A four-point agreement has been reached between the farmers and the industrial side, who are on a dharna demanding the arrears of sugarcane sold to the Annapurna sugar industry in Dhankaul, Sarlahi. On the ini...
Are you exchanging foreign currency? Here are the exchange rates (with list)
Kathmandu. Nepal Rastra Bank has determined the exchange rate of foreign currency for today. According to the National Bank, the value of foreign currencies such as US dollar and Euro has increased today. According to...