The government and victims of cooperatives on Thursday inked a seven-point agreement, bringing an end to protests staged by the victims swindled by cooperative operators.

The deal was reached during talks between government officials in the presence of Minister for Land Management, Cooperatives and Poverty Alleviation Ranjita Shrestha and representatives of the struggle committee.

As per the agreement, three representatives from cooperative victims will be inducted into the cooperative sector reform suggestion task force formed by the government.

Likewise, it has been agreed that the ministry, the Department of Cooperatives and the Problematic Cooperatives Asset Management Committee will carry out the tasks if there is a need to amend the laws to improve the cooperative sector.

As per the deal, the ministry will start the process for the establishment of the Deposit and Credit Guarantee Fund to secure the savings of cooperative depositors.

Similarly, the ministry has agreed to immediately proceed with the establishment of a credit information centre and a debt recovery tribunal to make the debt recovery process from cooperative organisations quick and effective.

 Victims of cooperatives have been staging a sit-in at Maitighar for over two months, pleading with the authorities to help them get their savings back.

Hundreds of people who deposited their hard-earned cash in cooperatives are now in trouble as the cooperative operators have gone out of contact. Many of those who are in contact tell them that they can’t immediately give back the deposits.

Earlier today, victims marched from Maitighar to New Baneshwar carrying placards and banners with various slogans demanding to take action against owners of cooperatives failing to return money to the depositors and those on the run and resolve issues of the depositors among others.

A brief scuffle occurred between protesters and security personnel.