New Delhi: Union Home and Cooperation Minister Amit Shah launched CRCS-Sahara Refund Portal to facilitate refund of the hard earned money of crores of rupees in four cooperative societies of the Sahara Group.
It is for the first time when depositors are getting refunds in a case where multiple government agencies are involved and each one has done a seizure, said Mr Shah while launching the portal on Tuesday. He said the depositors would get their money within 45 days after registering on the portal.
Link to register on the portal:
https://mocrefund.crcs.gov.in
The Union Minister said that the money would be refunded in installments and the depositors would get up to Rs 10,000 refund initially. Subsequently the amount would be enhanced for those who have invested higher amounts.
A corpus of Rs 5,000 crore would be able to take care of the needs of 1.7 crore depositors in the first phase, he informed. Over 2.5 crore people have deposited in four cooperative societies namely Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd and Stars Multipurpose Cooperative Society Ltd.
The Minister said that once Rs 5,000 crore is utilised, the government will approach the Supreme Court with a request to release more money to carry on the refund of process further.
Earlier the Union government on March 29 had announced that the money would be returned to 10 crore investors of the four cooperative societies within a span of 9 months. The announcement was made after the Supreme Courts order directing the transfer of ₹5,000 crore from the Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).
Outlining the requirement of the documents to get the refund he said that Aadhaar registration with mobile and Aadhaar-linking with the bank account where refund is to be deposited are primarily required.
Common Services Centre would also help and guide depositors for online registration on the portal for refund, he maintained.
The subsidiary of IFCI has developed a portal for depositors of cooperative societies to submit their legitimate claims.
Launching of the portal has brought a ray of hope among the crores of depositors.
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