PATAN, Nov 27: The National Cooperatives Regulatory Authority (NCRA) has launched a software for the registration of cooperatives with their major operations in savings and credit. The NCRA held a program here on Wednesday to formally begin registration of cooperatives through an automatic online system.
At the program organized to inform about the start of the online registration process, NCRA Chair Dr. Khagaraj Sharma shared that arrangements have been made for cooperatives to also become members of the Credit Information Center. He said that it will also make it easier to be included in the Deposit and Credit Protection Fund.
Sharma emphasized the need to pay attention to the issue of money laundering and bring cooperatives into a specific system, and expressed the view that all sides should work together to solve the problems that is plaguing this sector.
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Vice President of the National Cooperative Federation, DB Basnet, urged the smooth management of the system and requested the employees of the Authority to facilitate the registration and documentation by supporting and coordinating with the cooperative organizations.
Treasurer of the Nepal Savings and Credit Central Cooperative Association, Deepak Thapa, said that the cooperative organizations need financial support and facilitation, and emphasized that the NCRA should be able to work as a facilitator rather than a 'ruler'.
Chief Executive Officer of the National Cooperatives Bank, Badri Guragain, expressed confidence that the system that has been put into operation will help in the management of data and address money laundering.
The government formed the National Cooperatives Regulatory Authority in January 2025 to regulate, supervise and monitor financial cooperatives registered to deal with savings and credit across the country.
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