70-year-old Kaushilya Harijan of Pratappur rural municipality-6 in Paschim Nawalparasi has saved two lakh rupees in the Public Interest Savings and Loan Cooperative after saving her social security allowance. But now that the cooperative has been closed, he is desperate to return his savings.

 ''I saved in the cooperative so that I can get a loan when I am sad,'' she said, 'I kept the amount of old age allowance without spending it. Now the operator absconded after taking the money. Our savings had to be returned anyway.

There is no easy access to banks and financial institutions in the southern part of the district. Therefore, the locals deposited money in the cooperatives opened in the village. Established in 2075, the cooperative had a total of 56 lakh 86 thousand of about 700 savers. According to the victim, the manager of the organization Avinash Kumar Kushwaha and some members of the board of directors are absconding after embezzling the amount. 

Suklal Mian of Susta rural municipality-5 is physically challenged. He also collected Social Security benefits and some money he had, saying he would work during hardships and treatment. But the cooperative has been closed for a year and the manager is absconding, he said.

Badri Yadav of Pratappur-6 is a retired police constable. After retirement, he took up farming. He started saving his income in the cooperative for his children's education. But now, he said, his savings have been wasted.  Yadav expressed his disappointment saying that the

co-operative was closed and the leaders of the political parties remained silent for its solution. This is a very rural area. Most of them earn a living by doing farming and general labour,' he said, 'cooperative thugs are running openly despite the embezzlement of the money they have saved from old age allowance and general labour.' A five-member inquiry committee was formed. During the study, the committee found that the cooperative did not keep most of the records of savers' amount and loan disbursement, did not keep collateral for loan disbursement and only cut cash receipts.

in which the investigation committee has determined that only Kushwaha, the manager of the cooperative, embezzled more than 52 lakhs. According to the committee, the remaining amount was embezzled by other officials of the organization.

Cooperative has audited only once since its establishment and has not yet held a general meeting. It has been found that only Rs. 10,000 is available in the cooperative.

Co-operative has been embezzled by the savers, the culprits should be prosecuted, the savings should be returned and it has been suggested to establish a separate co-operative branch in the rural municipality to regulate the co-operative, Chowdhury said. "The management committee and stakeholders were not found to regulate the activities of the cooperative," he said, "the procedures and methods that should be adopted in the financial institution were not used." It is recommended to create an environment. Chairman of the municipality Umeshchandra Yadav said that he is in legal consultation.