Sahara Crisis: Government Disburses Over Rs 2,000 Crore to Depositors

The Indian government has disbursed Rs 2,025.75 crore to 11.61 lakh depositors of Sahara Group of Cooperative Societies, facilitated by the CRCS-Sahara Refund Portal. Payments up to Rs 50,000 are made per depositor. The ministry continues to ensure rightful claims are processed, utilizing an application resubmission portal.

The Indian government has taken a significant step in addressing the concerns of Sahara Group Cooperative Societies' depositors. According to Cooperation Minister Amit Shah, Rs 2,025.75 crore has been disbursed to 11.61 lakh depositors as of January 28 this year.

This initiative is being executed through the CRCS-Sahara Refund Portal. The portal, set up following a Supreme Court order on March 29, 2023, was established to aid depositors in reclaiming their funds. Under the current scheme, each genuine depositor is receiving up to Rs 50,000 in their Aadhaar-seeded bank accounts.

To ensure the thorough processing of claims, any deficiencies in depositor applications are being communicated for resubmission via a dedicated portal, launched on November 15, 2023. The Ministry remains committed to facilitating payments to legitimate depositors of Sahara Group of Cooperative Societies.