This is the story about the restructuring of local agricultural cooperatives following the 1997 Asian financial crisis. 

The initial focus was on resolving the financial distress of numerous failing cooperatives, involving mergers, asset transfers, and the establishment of a Mutual FinancialDepositors Protection Fund and an asset management company. Subsequently, a preventative system was implemented to avoid future crises, including a proactive risk management framework and enhanced regulatory oversight. Finally, the "New Village, New Cooperative Movement" is described, a comprehensive initiative aimed at improving cooperative self-reliance, strengtheningagricultural markets, and revitalizing rural communities. The overall goal was to improve the financial health and operational efficiency of the cooperatives. Coming up the business restructuring story after this episode.