The National Cooperatives Regulatory Authority (NCRA) has launched a new software system to facilitate the online registration of cooperatives engaged primarily in savings and credit activities. The system was formally introduced during a program held on Wednesday.
During the event, NCRA Chair Dr. Khagaraj Sharma announced that cooperatives will now be able to register and receive approval through an automated online platform. He also informed that arrangements have been made for cooperatives to become members of the Credit Information Center, which will make it easier for them to join the Deposit and Credit Protection Fund.
Sharma stressed the importance of addressing concerns related to money laundering and bringing cooperatives under an effective regulatory framework. He emphasized that all stakeholders must work together to resolve the challenges faced by the cooperative sector.
Speaking at the event, DB Basnet, Vice President of the National Cooperative Federation, called for smooth implementation of the new system and urged NCRA employees to support cooperative organizations by facilitating registration and documentation processes.
Similarly, Deepak Thapa, Treasurer of the Nepal Savings and Credit Central Cooperative Association, highlighted the need for financial support and facilitation for cooperatives. He said the NCRA should act as a facilitator rather than a regulator that imposes strict control.
Badri Guragain, CEO of the National Cooperatives Bank, expressed confidence that the newly launched system would strengthen data management and help address issues related to money laundering.
The government established the National Cooperatives Regulatory Authority in January 2025 to regulate, supervise, and monitor financial cooperatives involved in savings and credit operations across the country.
