The government has decided to bring the ordinance in the background of the many confusions seen in the cooperative sector, misappropriation of savings by people with bad intentions and many problems created by it are becoming the subject of public discussion.

In the Ordinance amending the Cooperatives Act, 2074, the National Bank Act, 2058 and the Deposit and Credit Protection Fund Act, 2073, several provisions have been put in place to minimize the common causes of co-operatives being in crisis. It can be expected that due to the ordinance passed by the Council of Ministers and which will be implemented after being verified by the President, it will help in solving the problems of the cooperative sector.

It can be assessed that provisions such as the creation of the National Cooperative Regulatory Authority as a strong body for the regulation of cooperatives, the setting of personal savings and loan limits, and the return of savers' savings from cooperatives that have been declared problematic, will curb the chaos in this sector.

One of the pillars of the three-pillar economic policy adopted by the country is cooperatives. This is the area where lower-middle class families have easy access to savings and loans. That's why people, from burning corn to cleaning the streets, kept a certain part of their little earnings in the cooperative.

is their usual hope – saving even a little now can be taken back in times of trouble, can be avoided. But there were other people in the cooperative. He was undertaking to illegally kill the savings of common people, buy land and invest in his companies and drown the cooperative itself.

In recent years, one crisis after another in cooperatives and the introduction of 'cooperative fraudsters' attached to the name of one person after another is this.

The Cooperative Department, which is responsible for regulation, could not fulfill its role when there were problems in cooperatives. Because of his weak role, many cooperatives in the country are in crisis and savers' savings are at risk.

Amidst this background, the government has created a powerful agency called the National Cooperative Regulatory Authority. It will be autonomous and self-governing and will register, regulate and supervise cooperatives by formulating norms. It will do the work of issuing regulatory standards in relation to the operations of the cooperative organization that deals mainly with savings and loans, taking necessary actions to ensure the safety of savers' savings, regularly monitoring and inspecting the cooperative organization, receiving complaints, investigating the received complaints and giving instructions to the related organizations.

Surya Thapa-led Cooperative Inquiry Committee had also suggested to form such an authority. Other stakeholders were also raising this issue. With the implementation of the authority, cooperatives can be expected to come under strong regulation. Another notable aspect of the

Ordinance is the issue of refund of funds deposited by members in cooperative societies with problematic declarations. It is mentioned in the ordinance that savings of up to five lakh rupees deposited by savers in such cooperatives will be paid on first priority.

Similarly, in the case of accumulated savings of more than five lakh rupees, if the related organization is not in a position to pay at once, there is a provision to make a standard and pay the member's savings proportionally. It is also mentioned that for the purpose of returning the savings amount, the management committee of the cooperative organization or the management committee according to section 105 of the Cooperative Act can sell the mortgage security taken while providing the property or loan of such organization. Many

topics will become apparent during implementation. But the provisions of the Ordinance try to assure the savers that their savings will not sink. This will give confidence not only to millions of savers but also to the government sector itself. The

ordinance has strict provisions from the maximum amount of money that a person can save to the matter of becoming a member. The limit of personal savings and loans in cooperatives with operational areas within one district is fixed at 10 lakhs. Similarly, 2.5 million has been set for the scope of work in more than one district and 50 million for more than one province.

Savings exceeding 10 lakhs of rupees must be sourced and loan information of more than 10 lakhs has been made compulsory by cooperatives to the credit information center. It will play a role in making the money coming in and out of the government transparent. As soon as the method of inflow and outflow of funds becomes transparent, the past trend of dubious money coming into the cooperative and money leaving it in a dubious manner and being misused will improve. The

ordinance also seeks to prevent the tendency of a single person becoming a member of multiple cooperatives and drowning them all. Now a person cannot become a member of more than one co-operative society of the same nature. At the same time, the director may not be elected and remain in office for more than two terms. It seems that the