Monitoring cooperatives on
KATHMANDU: Monitoring of cooperatives, started by the Department of Cooperatives (DoE) two weeks ago, is continuing.
The department begun monitoring after the Nepal Rastra Bank had directed to do so in wake of increasing investment in unproductive sectors by cooperatives. Maheshwor Sharma Poudel, Registrar of DoE, said information about investment made by big cooperative institutions are being collected. During the monitoring, many cooperatives based at urban areas are found investing in several sectors, he said. "It is still too early to reveal name of those institutions monitored by the department." Poudel said that the monitoring process, confined within Kathmandu at present, will start outside the capital. According to records at DoE, more than 15,000 cooperative institutions have been registered and among them 5,000 have been working in saving and loan sector.