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
Tragedy in Vidur's Betravati: 22 people found dead in a house flooded
Nuwakot. A heart-wrenching incident has come to light in Bidur Municipality 10, Betrawati, Nuwakot due to the severe flooding of the Trishuli River, which is flowing through the upper region of Rasuwa. The bodies of 22 people were found buried in...
Demat accounts in Nepal crossed 77 lakhs, 26 percent were linked to stock market
Kathmandu. According to the Nepal Capital Market Development Roadmap, 2083 recently published by the Nepal Securities Board, the number of demat 9 beneficiary accounts in Nepal has reached 77 lakh 66 thousand five hundred and 65. Around 1.7 lakh d...
Emergency oil supply to ease energy market volatility
Kathmandu. The International Energy Agency has said that the member countries of Asia and Oceania region will immediately send oil from their emergency oil reserves to the market. It is said that such a step has been taken to reduce the instabilit...
NEPSE fell by 10.25 points, trading fell to 8 billion 61 crores
Kathmandu. On the third trading day of the week, NEPSE index decreased by 10.25 points to 2662.14. Today, 21.17 million 15 thousand 868 shares of 324 companies were bought and sold, and 8.61 billion 64 million shares were traded. Today, while the...
What is the foreign currency exchange rate for Monday?
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 141 rupees 56 paisa and the selling rate is 142...
New system implemented in transport service, national identity card and mobile number in own name mandatory
Kathmandu. With the aim of making transportation services more modern, convenient and technology-friendly, the government has launched a new integrated digital system. Through this system, citizens can now apply online for various transport servic...