Kathmandu, Jan. 28 -- The government on Monday established the National Cooperative Regulatory Authority (NCRA) to address the problems surrounding cooperatives and their depositors.

A Cabinet meeting on December 25 had decided to scrap the National Cooperative Development Board (NCDB) and establish the Authority through the ordinance. The ordinance came into effect after it was authenticated by President Ramchandra Paudel on December 29.

Minister for Land Management, Cooperatives and Poverty Alleviation Balaram Adhikari inaugurated the office of the Authority in Pulchowk, Lalitpur. While inaugurating the office, Minister Adhikari expressed confidence that with the operation of the powerful agency, the cooperative operators involved in ...