The co-operative concept in the form of Guthi, Parma, Dhikuti, Dharma Bhakari etc, has been used from a very beginning in Nepalese societies. Characteristics of these historical social institutions are almost resembled with primary form of co-operatives. For the institutional development of such societies, then government aimed to adopt co-operative system as a means for economic social and cultural development of the people as well as an appropriate and effective tool for rural development. Then government established the Department of Co-operative under the Ministry of Planning, Development and Agriculture in 1953 A.D (2010 B.C). Savings and credit cooperative society capital was transformed into a cooperative bank in 1963, and it was further transformed into the Agricultural Development Bank of Nepal in 1968. (ADBN). The Cooperative Act was once more changed in 1975 after the ADBN relinquished management to the government after five years.
The modern cooperative movement initiated from Rapti Valley (Chitwan District) as a part of flood relief and resettlement program. At the first time 13 credit cooperative societies established in 2013 B.S. were provisionally registered under the executive order of the government which got legal recognition after the enactment of Cooperative Societies Act 2016 B.S.(1959 A.D.). The first Co-operative Societies Act was revised several times and it was replaced by the Sajha Societies Act in 2041 B.S.(1984 A.D.). After the restoration of multiparty democracy the Sajha Societies Act was replaced again by the Co-operative Act 1992. The Department of Co-operative has provided the authority for registration and regulations of co-operative societies/unions/federations under the Acts.
Savings and Credit, Multipurpose, Dairy, Agriculture, Fruits and Vegetables, Beekeeping, Tea, Coffee, Consumers, Science and Technology, and Energy are the main categories of co-operative societies that operate in Nepal, according to the Department of Cooperative. More than 60,517 people work directly for cooperative businesses, and it is estimated that approximately 6 million people are members of the 34,512 cooperatives.
Mission
"A capable financial cooperative organization that provides quality services through skilled human resources and modern technology, and is committed to the economic and social development of its members based on cooperative principles and values.”
Vision
“A community-based cooperative organization committed to provide excellent f inancial services to its members.”
Objectives
- Develop the habit of regular saving by instilling a sense of thrift among members of the organization.
- Create a strong institutional foundation by increasing membership, expanding scope, and raising share capital.
- Expand business operations through enhanced member services, such as various types of savings and loans, remittance services, technology-based services, and insurance.
- Improve office management, including the effective handling of physical resources.
- Develop human resource capacity, including directors, account committee, sub-committees, and employees.
- Provide comprehensive member services and engage in social activities.