Govt To Reimburse Depositor’s Money By Selling Cooperative Owner’s Asset

The government has announced that it will reimburse the money of depositors in cooperatives that have been declared unstable.

Presenting the budget for the fiscal year 2081/82 before the joint session of the federal parliament, Finance Minister Barsha Man Pun stated that the savings of people who invested in the cooperatives will be repaid.

Finance Minister Pun said that the savings of up to 5 lakh rupees will be returned even by selling the assets of the cooperative's owners.

He also stated that a regulatory organization will be formed to oversee savings and credit cooperatives.