A demonstration is scheduled in Pokhara, Nepal, on October 20, related to a highly publicized court hearing concerning a major cooperative bank fraud case. The case involves allegations of financial mismanagement by cooperative banks, where victims, including depositors, claim to have lost significant amounts of money. The Oriental Cooperative and other institutions are under scrutiny for mismanaging funds and failing to return depositors’ savings, which has sparked widespread public outrage.
This demonstration is part of a larger movement in Nepal aimed at obtaining justice for those affected by fraudulent cooperatives. These cooperatives are accused of granting unsecured loans and engaging in risky real estate projects, leading to financial losses. Despite several government investigations and the establishment of commissions to address these issues, many victims are still awaiting compensation. The upcoming demonstration in Pokhara is expected to draw attention to these ongoing grievances and could disrupt the area during the court hearings.
Authorities are expected to strengthen security around the demonstration to ensure it remains peaceful. However, tensions remain high as the public continues to demand reforms and stricter regulation of cooperatives in Nepal.
