In the last two months, 1,754 savers of troubled cooperatives have received a refund of about Rs 25 million. Out of the 23 cooperatives declared problematic by the federal government, 1,754 savers of 10 organizations have received their money back. This is the details of the refunds made till Asad 15. 

According to the Problematic Cooperative Management Committee, the federal government is managing the cooperatives declared problematic. According to which, the committee has been working on recovering the loans and returning the savings of those cooperatives. In the same vein, the government has established a revolving fund for the return of savings after amending the Cooperative Act through an ordinance.

The fund operated by the Problematic Cooperative Management Committee will keep the amount received from the government and recovered from the organizations for later replenishment. Dilliram Acharya, the chairman of the Cooperative Management Committee, who is gradually returning the money from the same amount, said. According to him, as of Asad 15, the savings of 141 savers worth Rs 17.957 million have been reconciled. 

Similarly, the committee has stated that 43.282 crore loans have been recovered from 154 cooperative borrowers in the last two months. During that period, a total of 44.348 crores of savings have been managed by returning and matching savings of 1,895 beneficiaries, the committee has informed. If a person has savings in the same cooperative and has also taken a loan from it, matching all the accounts between what he has to pay and what he has to take is called 'savings matching'.

Cooperative victims complain that the government has not returned the savings in a fair manner. Although the committee currently claims that the amount has been returned by giving priority to only small savers with savings of up to 10,000 rupees, most cooperative victims are dissatisfied with the distribution process, said Kushav KC, central president of the National Campaign for the Protection of Cooperative Savers Federation. 'The cooperative victims are not satisfied, the savings return process is not fair, and many have been wronged individually,' he said. 'All savers have equal rights to the amount that is available. Therefore, it should be distributed in a fair manner so that everyone can reach it. He said that although some were given 100% of the amount, some did not receive it at all. Claiming that the amount was distributed without a clear basis and criteria, he said that the policy-making and directive body should take responsibility if the amount is insufficient in the future.

Among the savers of 10 cooperatives who received money back from the first week of last Jestha to Ashad 15, the largest number belongs to Shiva Shikhar Multipurpose Cooperative Society. 869 savers of this organization have received a refund of 32 lakh 66 thousand rupees. Similarly, 215 savers of Kantipur Saving and Credit Cooperative Society have received a refund of 9 lakh 89 thousand 716 rupees and 158 savers of Tulsi Multipurpose Cooperative Society have received a refund of 2 lakh 53 thousand 768 rupees.

1.162 million has been returned to 349 savers of Laligurans Multipurpose Cooperative, 513 thousand to 88 savers of Krishi Bikash Multipurpose Cooperative, 140 thousand to 26 savers of Gorkha Saving and Credit Cooperative, 142 thousand to 23 savers of Oriental Cooperative, and 43 thousand to 13 savers of Hamro Sagarmatha Multipurpose Cooperative.

According to the committee's data, 41 thousand 465 rupees have been returned to 7 savers of Pashupati Saving and Credit Cooperative and 37 thousand 19 rupees to 6 savers of Nagarik Kalyan Multipurpose Cooperative. The committee has recovered 34 million 8 thousand from 77 borrowers in Baisakh and 127 million 73 thousand from 53 borrowers in Jestha. The committee has stated that 23 lakh 31 thousand 917 rupees have been recovered from 24 borrowers till Asad 15. 

The government has established a ‘revolving fund’ to return the money of troubled cooperatives. Initially (in April), the government collected Rs 250 million and Rs 350 million collected through savings and recovery of the organizations, totaling Rs 600 million. The amount has been kept in the fund for later reimbursement. The committee is returning the money to the savers from the same fund. 

So far, the federal government has declared only 23 cooperatives problematic. Of these, the money of savers of three cooperatives with small amounts has already been cleared. Of the savers of the remaining 20 cooperatives, the money has been returned to savers of 10 cooperatives by Asad 15.