More than 500 Nepali savings cooperatives are in dire straits with US$ 490 million in depositors’ money at risk. The lack of controls and the use of money by promoters to obtain bank loans are blamed. The prime minister promises to intervene, but victims accuse politicians of complicity.
More than 500 Nepali savings cooperatives are in dire straits with US$ 490 million in depositors’ money at risk. The lack of controls and the use of money by promoters to obtain bank loans are blamed. The prime minister promises to intervene, but victims accuse politicians of complicity.