The deadline, initially set for 10 Magh, has been extended to 11 Falgun due to low participation. Authorities estimate that around 15,000 of Nepal’s 32,000 cooperatives are required to register.
Under the Cooperative Act 2074, the Authority is responsible for regulating cooperatives primarily engaged in savings and credit. Unlicensed cooperatives may be barred from collateral transactions, tax payments, credit information services, and external audits.
Officials say full enforcement of the standards will begin after the deadline, including possible cancellation of non-compliant cooperatives.
