Kathmandu, April 22 -- Non-government organisations which were converted into microfinance institutions as per the policy of Nepal Rastra Bank need to deposit the reserve fund they earned in the capacity of NGO into the government's treasury, the Office of the Auditor General has said.
The auditing body said that such fund should go to the state coffers as per the Associations Registration Act, under which these NGOs were registered at the concerned District Administration Office before they were converted into microfinance institutions.
In its latest performance audit report, the Auditor General's Office has stated that 17 NGOs, which were either converted or were in the process of being converted into a microfinance institution, generat...