Sahara Refund Portal: When would the investors get back the money stuck in Sahara India, this had emerged as a big question. Union Home and Cooperation Minister Amit Shah gave a big relief to the investors of Sahara today. He has launched the Sahara Refund Portal for investors to get instant refunds up to Rs 10,000. Shah has launched the CRCS-Sahara Refund Portal on 19 July. With the help of this portal, the money of crores of investors deposited in Sahara Group’s cooperative will be returned in 45 days.
The investors who had invested money in Sahara’s co-operative societies, their money was submerged for many years. But with the launching of Sahara Refund Portal by Amit Shah, the process of refunding the money has started. Initially, investors of Sahara will get a refund of up to Rs 10,000. Inaugurating the Sahara Refund Portal, Amit Shah described it as a historic moment. He said that this is the first time that depositors are getting their money back in such a case. The Cooperative Minister assured the depositors that now no one can stop their money and they will get their money back within 45 days of registering on the portal.
The process of returning the people whose money was stuck in Sahara’s co-operative societies for many years has been started. Live from the launch program of “Sahara Refund Portal”… https://t.co/TBmAukHaio
— Amit Shah (@AmitShah) July 18, 2023
In its order, the Supreme Court had ordered the transfer of Rs 5,000 crore from the Sahara-SEBI refund account to the Central Registrar of Cooperative Societies (CRCS). After which the government had said on 29 March 2023 that the money of 10 crore investors of the four cooperative societies would be returned within 9 months.
Initially, depositors will be issued a refund of up to Rs 10,000 after registering on the Sahara portal. And those who have invested more than this, their refund amount will be increased. Amit Shah said that for Rs 5,000 crore, 1.7 crore depositors will be able to get their money back.
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.
Amit Shah said that after returning Rs 5,000 crore to the depositors in the first phase, the government will file an application in the Supreme Court requesting to release more funds. So that such investors who have deposited more amount can be refunded their entire money. Amit Shah told that there will be service centers for online registration on the portal which will help the depositors.
How to get refund?
- Depositors of Sahara will have to visit Sahara Refund Portal by clicking on https://cooperation.gov.in to get their refund.
- The investor will first have to register on the Sahara Refund Portal.
- A subsidiary of IFCI has developed the portal to ensure correct identification of depositors claiming to deposit money in these cooperative societies.
- For registration on Sahara Refund Portal and to get refund back, the investor must have mobile phone number and Aadhaar.
- It is also necessary to have a bank account which is linked with Aadhaar.
- After verifying in this bank account, the money will be refunded to the investors.
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