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
Nepal Life's 'Business Excellence Conference' completed, more than 13 billion first insurance fees collected last year
Kathmandu. Nepal Life Insurance, the most reliable life insurance company of Nepal, has successfully completed the two-day 'Business Excellence Conference'. More than 280 employees of sales and marketing departments from all over the country parti...
Historic Free Trade Agreement between India and New Zealand
Kathmandu. A new chapter has started in the bilateral trade relations between India and New Zealand from Monday. The two countries have signed a historic free trade agreement. With the agreement, it is expected to bring radical changes in the fiel...
The price of chiraito has decreased, farmers are worried
Bhojpur. Farmers here are worried after the price of chiraito, a multi-purpose herb found in Lekali region, has decreased significantly this year. Chiraito, which has become the main source of income for the farmers for the past few years, has dis...
Action taken against two pilots of Nepal Airlines
Kathmandu. The Civil Aviation Authority of Nepal (CAN) has grounded two pilots of the Nepal Airlines Corporation for violating the rules related to flight operations. CAN had written to the corporation on Friday, instr...
Hams Hospital to launch IPO
Kathmandu. Hospital for Advanced Medicine and Surgery Limited Hams Hospital has called the annual general meeting with the proposal of IPO issue. The meeting of the board of directors of the hospital held on 5th July decided to hold the Annual Gen...
Applications for the post of Chairman of the Securities Board are open
Kathmandu. Applications have been opened for filling the post of Chairman of Nepal Securities Board Sebon. The Ministry of Finance has issued a notification calling upon eligible Nepali citizens to submit personal details and biodata within seven...