Action against seven cooperatives by correspondence with CIV

Seven of the cooperatives that Kathmandu Metropolitan City was keeping an eye on have been forwarded to the Nepal Police's Central Investigation Bureau for additional investigation and follow-up. Among the cooperatives assigned for study, there are six savings and loan cooperatives and one multipurpose cooperative.

Squash Savings and Loan Cooperative Society Limited, Rural Development Savings and Loan Cooperative Society Limited, Satkar Savings and Loan Cooperative Society Limited, Mahabuddha Savings and Loan Cooperative Society Limited, and Namo Harati Savings and Loan Cooperative Society Limited are among the cooperative societies that offer loans and savings options. The Metropolitan Corporation has been informed by Cooperative Society Limited. Similar to this, the basic multi-purpose cooperative society is constrained in the multi-purpose cooperative.

 The head of the cooperative department, Dhruv Kumar Kafle, said that further study is required in the areas of investment, loan disbursement, savings collection, and money mobilization. Kafle lists "adherence to self-regulation," "democratic control system," "monopoly," "areas of investment," and "following principles" as some of the operational limitations of the cooperatives.

Taking and donating investments, accepting and investing savings outside of the members' jurisdiction, investing against the goals of the organization, and one person acting as manager against the rules are all frequent occurrences. About the image obtained from cooperative monitoring, Kafle provided clarification. This scenario has been demonstrated by the monitoring carried out between June 7, 2081, and June 16, 2080, and the report that was generated from that data.

 The entire information has been forwarded to the provincial government since one of the monitored ones' employment area is determined to be provincial. According to Sushil Subedi, Member Secretary of the Monitoring Committee and Head of the Cooperative Regulation Division, "32 cooperative organizations were asked for an explanation based on the report received from the monitoring." Nobody has been found guilty. We shall decide on the course of action after reviewing the letters that were submitted in this manner. He claims that the Kathmandu Metropolitan City Cooperative Act 2074 provides for a maximum fine of 5 lakh rupees and a maximum sentence of 10 years, depending on the nature of the offense.

On July 1, 2074, the Nepalese government made a decision to move the Divisional Cooperative Office to the local level. That states that the Division Cooperative's work, which had been done since July 1st, 2075, was moved to the city. The Cooperative Act was already published by the Kathmandu Metropolitan City in 2074, which is the year before the handover.

Within the metropolitan area, there are 1,922 cooperative societies that have been moved and reregistered.