Kathmandu, Nepal — Bachan Savings and Credit Cooperative Society Ltd. (Bachan SACCOS) successfully concluded its Sixteenth Annual General Meeting (AGM) on 8 November 2025 (2082/07/22 B.S.), marking a significant milestone in the Cooperative’s journey toward stronger governance, financial sustainability, and member-centered growth. The AGM was held at the Assembly Hall of Nepal Sanskritik Sangh, Dillibazar, under the chairpersonship of Mr. Mukunda Raj Khanal, Chairperson of the Board of Directors, with enthusiastic participation from shareholder-members and their representatives.
Commencing at 10:00 a.m. as scheduled, the AGM reflected the democratic spirit of cooperatives through active dialogue, transparency, and collective decision-making. The Chairperson formally opened the session and guided members through a comprehensive agenda covering performance review, policy directions, financial oversight, and long-term strategic initiatives. Each proposal was discussed in detail, enabling members to make informed decisions on the Cooperative’s present achievements and future roadmap.
Approval of the Chairperson’s Progress Report
The progress report of the Cooperative for FY 2081/2082, including details of activities carried out by the institution, presented by Chairperson Mr. Mukunda Raj Khanal, was approved by the General Assembly.
Approval of the Secretary’s Report, Policy, Program, and Budget
The progress report for FY 2081/2082 presented and read out by Secretary Mr. Manohari Tiwari was approved. In addition, the policy, program, and budget for FY 2082/2083 were discussed in detail and approved.
Approval of the Treasurer’s Report
The financial report, including income and expenditure for FY 2081/2082, presented by Treasurer Mr. Suresh Dhimal, was discussed and approved.
Approval of Bylaws, Policies, and Procedures
Amendments made by the Board of Directors to the loan policy, staff service regulations, and savings policy were approved. It was also decided to amend and rewrite the Bylaws 2066 in line with the Cooperative Act 2074 and Cooperative Regulations 2075, making them time-relevant.
Approval of Audit Supervision Committee Report
The report presented by Mr. Bimal Bhetwal, Coordinator of the Audit Supervision Committee, was approved by the General Assembly.
Appointment of Representatives to Sign the Decision Register
The following shareholder-members were selected as representatives to sign the General Assembly Decision Register:
Approval of Member Recognition and Facility Policy
The Member Recognition and Facility Policy 2082, relating to members providing personal property as collateral, prepared by the Board of Directors, was approved.
Increase in Share Capital and Amendment of Bylaws
To increase the Cooperative’s share capital, it was decided to amend Chapter 4, Clause 18(1) of the Bylaws 2066 as detailed below, and to submit the amendment for record and certification to the Kathmandu Metropolitan City Office and the Department of Cooperatives.
Total share capital of the Cooperative shall be NPR 50,000,000 (Five Crore).
Shares shall be issued at NPR 100 per share, totaling 500,000 (Five Hundred Thousand) shares.
The Board shall ensure that the proportion of shares purchased by members remains at least 1:10 in relation to total share capital.
The amendment was justified due to the increase in membership and the need to strengthen the financial position of the Cooperative.
Approval of Audit Report (FY 2081/2082)
The audit report for FY 2081/2082, presented by CA Mr. Sagar Acharya of S. Acharya & Associates, was approved.
Appointment of Auditor (FY 2082/2083)
The Board of Directors was authorized to appoint one auditor from among S. Acharya & Associates, KPN & Associates, or SMS Associates, and to determine remuneration.
Approval of Allowances and Remuneration
For FY 2082/2083, the following provisions were approved and continued:
Board of Directors meeting allowance: NPR 2,000 per meeting (after tax deduction)
Audit Supervision Committee meeting allowance: NPR 2,000 per meeting (after tax deduction)
Sub-committee meeting allowance: NPR 1,000 per meeting (after tax deduction)
Chief Executive Officer annual remuneration and allowance: NPR 939,392
Monthly transportation allowance for the Chairperson: NPR 4,000
Approval of Past Board Decisions
All decisions made by the Board of Directors during FY 2081/2082 and between 2081/04/01 and 2082/04/15 were approved.
Approval of Interest and Penalty Waivers
The decisions of the Board of Directors to grant interest and penalty waivers on loans to certain members during FY 2081/2082 were approved.
Establishment of Service Centers
The Board of Directors was authorized to establish service centers at appropriate locations after obtaining necessary approvals, in the interest of expanding the Cooperative’s business.
Authorization for Cooperative Merger
The Board of Directors was authorized to proceed, following legal procedures, with mergers/integration with savings and credit cooperatives having similar objectives, after assessing financial, administrative, and governance aspects.
Cancellation of Inactive Membership
Approval was granted to cancel the membership of members who do not maintain regular savings, do not participate in institutional programs, and fail to attend three consecutive Annual General Meetings. The Board of Directors was authorized to take necessary decisions accordingly.
(a) Sale of Land:
The Board of Directors was authorized to sell the land acquired by the Cooperative through auction, ensuring that the sale price is not less than the outstanding loan amount.
Details of Land Registered in the Name of the Cooperative (Dhading Land Revenue Office):
S.N. Owner’s Name Address Ward No. Plot No. Area
1 Bachan Savings and Credit Cooperative Society Ltd. Dhading – Muralibhanjyang 2 301 3-0-0-0
(b) – Member Education Program
A Member Education Session was conducted during the 16th Annual General Meeting, providing cooperative education to 500 shareholder-members.
The keynote address was delivered by Prof. Dr. Arhan Sthapit, emphasizing compliance with the guidelines of the National Cooperative Regulatory Authority (NCRA). A panel discussion on “The Current Status and Future Strategy of Bachan Savings and Credit Cooperative Ltd.” featured:
The session was facilitated by Mr. Gopal Dhakal (journalist and psychologist), and training on “Cooperative Principles for the Prosperity of Members and Cooperatives” was delivered by Mr. Kiran Khatri, Trainer, National Cooperative Bank Ltd.
As there were no further matters for discussion, the Chairperson formally declared the closure of the General Assembly.
The Sixteenth Annual General Meeting of Bachan Savings and Credit Cooperative Society Ltd. was concluded successfully with the comprehensive approval of all major reports, policies, financial statements, and strategic decisions placed before the General Assembly. The approval of the Chairperson’s, Secretary’s, Treasurer’s, and Audit Supervision Committee’s reports reflected members’ confidence in the overall performance, transparency, and governance of the Cooperative during FY 2081/2082. The endorsement of policies, programs, budget, and amended bylaws further strengthened the institutional framework, ensuring alignment with prevailing cooperative laws and regulatory standards.
Key decisions such as the increase in share capital, approval of audit reports, appointment of auditors, continuation of allowances and remuneration, authorization for service center expansion, merger initiatives, and cancellation of inactive memberships demonstrated the Cooperative’s commitment to financial sustainability, operational efficiency, and responsible governance. The approval of interest and penalty waivers, member recognition and facility policy, and decisions on asset management highlighted a balanced approach between financial discipline and member welfare.
The inclusion of a comprehensive Member Education Program, attended by a large number of shareholder-members and enriched by expert insights and panel discussions, reinforced the Cooperative’s emphasis on awareness, capacity building, and participatory governance. Overall, the decisions of the General Assembly provided a clear roadmap for institutional strengthening, member prosperity, and sustainable growth in the coming fiscal year. As there were no further matters for deliberation, the Chairperson formally declared the closure of the General Assembly, marking the successful completion of the Sixteenth Annual General Meeting.
