Sahara Refund Portal: About 2.5 crore people have deposits of up to Rs 30,000 in four co-operative societies – Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited and Stars Multipurpose Cooperative Society Limited.
CRCS Sahara Refund Portal: After the initiative of the Central Government, the people who have invested in Sahara will get their money soon. Union Cooperative Minister Amit Shah expressed this hope. He was speaking on the occasion of launching of ‘CRCS-Sahara Refund Portal’. The purpose of the portal is to return the wages of crores of people deposited in the four cooperative societies of Sahara Group in about 45 days. Describing it as a historic moment, he said that this is the first time depositors are getting their money back in such a case.
Now no one can stop your money
He told that many government agencies are involved in this matter and every agency has seized the property. The Union Minister assured the depositors that now no one can stop their money. Not only this, they will get refund within 45 days of registering on the portal. The government had said on March 29 that the money would be returned to the 10 crore investors of the four cooperative societies within 9 months. The announcement came after the Supreme Court ordered the transfer of Rs 5,000 crore from the Sahara-SEBI refund account to the Central Registrar of Cooperative Societies (CRCS).
Will get refund up to Rs 10,000
He said that initially the depositors will get a refund of up to Rs 10,000. Later the amount will be increased for those who have invested more. He said that the Rs 5,000 crore fund would be able to provide relief to 1.7 crore depositors in the first phase. About 2.5 crore people have deposits of up to Rs 30,000 in four cooperative societies – Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Hamara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd.
Shah said, ‘After Rs 5,000 crore is given to the depositors, we will approach the Supreme Court and request them to release more funds. Due to this, the entire money of other depositors with a large amount can be returned. A portal has been developed by a subsidiary of IFCI (IFCA) for depositors of these co-operative societies to submit valid claims. Shah said that two things are necessary for this – Aadhaar registration with mobile and linking of Aadhaar with the bank account in which the refund is to be deposited. He said that Common Service Centers will help the depositors for online registration on the portal.
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