Sahara Cooperative refund: 700,000 Activate the portal to claim Rs 158 billion

By Consultants Review Team Tuesday, 25 July 2023

MoreMore than seven lakh people have activated on the portal for customers of Sahara cooperative societies to obtain their money back and declared a total of 158 crore, people aware of the growth said. Union Home and cooperation minister Amit Shah had last week introduced the Central Registrar of Cooperative Societies (CRCS)-Sahara Refund Portal for depositors of Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Hamara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd to submit refund claims.

Out of the total registrations, about 2,84,000 depositors have verified their Aadhaar while only 18,442 have verified all details, including receipt of making payment to one of the Sahara cooperative societies, becoming entitled to payment, people cited above said. The government said 97% of the depositors have deposited less than Rs 40,000 each in these societies.

The cooperative secretary also informed various groups formed by depositors about the portal and the process to follow to get their payments back. In its order on March 29, 2023, the Supreme Court had directed that Rs 5,000 crore be transferred out of the 'Sahara-Sebi Refund Account' to the CRCS for disbursement against the legitimate dues of the genuine depositors of the Sahara group of cooperative societies. It was after the Supreme Court's order that the cooperation ministry developed the portal. After launching the portal, Shah had said through this portal, the first payment of up to Rs 10,000 will be made to investors after verifying all their details within 45 days of filing their online claims.

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