New Delhi: Union Cooperation Minister Amit Shah on Tuesday launched ‘CRCS-Sahara Refund Portal’ for submission of legitimate claims by genuine depositors of four cooperative societies of Sahara Group, whose money has been stuck for many years.
“All data on the four cooperatives is online. This portal will help 1.7 crore depositors register themselves. All genuine depositors will get their money back. The claim of these depositors will be settled and the money will be refunded to their bank accounts within 45 days,” said Shah.
Initially, the depositors would get up to Rs 10,000 refund. “The amount would be subsequently enhanced for those who have invested higher amounts. The corpus of Rs 5,000 crore would be able to take care of 1.7 crore depositors in the first phase,” he added.
The portal will benefit genuine depositors of Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd.
Earlier in March, the Supreme Court directed the Center to transfer Rs 5,000 crore from the Sahara-SEBI refund account to the Central Registrar of Cooperative Societies (CRCS) to disburse the depositors. Following which, the government had said money will be returned to 10 crore investors of the four cooperative societies within 9 months.