Cooperatives close, leaving depositors in hardships

Although cooperatives and microfinance firms started closing from early March, district administration was unaware until depositors filed complaints.

Pampha Oli, a 35-year-old woman from Birendranagar Municipality-9, is a daily wage worker. For the past five years, Oli had been squirrelling away some money and depositing it in a local cooperative in the hopes of using her savings in her children’s education.