KATHMANDU: The Bagmati Province Office of the Problematic Cooperative Management Committee is preparing to refund small depositors of five troubled cooperatives by mid-July.

A recent meeting chaired by Bagmati Chief Minister Indra Bahadur Baniya decided to begin returning deposits to members of Civil Saving and Credit Cooperative, Darshan Saving and Credit Cooperative, Sumeru Saving and Credit Cooperative, Laligurans Saving and Credit Cooperative, and National Namobuddha Saving and Credit Cooperative.

Committee member Rameshwar Dhakal said refunds are expected to be distributed between July 11 and July 16, while verification of depositors’ records is underway.

The committee has collected Rs 90 million for the refunds and has asked eligible depositors to contact its office in Anamnagar.

Depositors of Civil, Sumeru, Laligurans, and Namobuddha cooperatives will receive up to Rs 100,000 each, while Darshan Cooperative depositors will receive up to Rs 10,000. About 3,000 small depositors are expected to benefit.

On June 5, the committee published a list of 114 major borrowers from the troubled cooperatives and urged them to repay their outstanding loans immediately.