Over 4.2 Lakh Sahara Depositors Receive Rs 362.91 Crore Amidst Digital Disbursement

Cooperation Minister Amit Shah announced that Rs 362.91 crore has been distributed to over 4.2 lakh depositors of Sahara Group of Cooperative Societies as of July 16, 2024. This disbursement, facilitated through the CRCS-Sahara Refund Portal, follows a Supreme Court directive aimed at assisting depositors in reclaiming their funds.

Cooperation Minister Amit Shah has announced that Rs 362.91 crore has been disbursed to over 4.2 lakh depositors of the Sahara Group of Cooperative Societies as of July 16, 2024. This move follows a Supreme Court order dated March 29, 2023, which mandated the establishment of the CRCS-Sahara Refund Portal to aid legitimate depositors in reclaiming their funds.

Currently, up to Rs 10,000 is being disbursed to each genuine depositor upon claim verification through an Aadhaar-linked bank account. Shah's written reply to the Rajya Sabha emphasized the transparent processing of applications received on the portal, based on proper identification and proof of deposits.

The entire process is digital and paperless, overseen by Justice R Subhash Reddy and Gaurav Agrawal. Deficient applications are being notified for resubmission via a dedicated portal. The Supreme Court's directive also included transferring Rs 5,000 crore from the 'Sahara-SEBI Refund Account' to the Central Registrar of Cooperative Societies for settling dues owed to depositors.