Government Initiates Legal Review to Address Financial Cooperatives' Challenges

In response to concerns surrounding the financial cooperative sector, the government has announced plans to conduct a comprehensive review of the legal framework governing these institutions. Additionally, the government pledges support in addressing the grievances of depositors affected by issues within financial cooperatives.

Rekha Sharma, Minister of Communications and Information Technology and Government Spokesperson, revealed that during the cabinet meeting held at the Office of the Prime Minister and the Council of Ministers, decisions were made to address these pressing issues. Notably, the meeting appointed Sudarshan Dev Bhatt, a judge from the Patan High Court, as the chairperson of the appeals committee tasked with overseeing legal matters within the financial cooperative sector.

Furthermore, the government has directed relevant agencies to take decisive measures to mitigate the impact of fires and wildfires occurring across the nation. Urgent action is deemed necessary to contain and control these incidents, emphasizing the importance of proactive measures to safeguard lives and property.