Union Home and Cooperation Minister Amit Shah announced that an amount of Rs 1,441 Crore has been released to 9,11,043 depositors of the Sahara Group of Cooperative Societies, as of 11th December 2024.
This disbursement is part of the ongoing efforts to refund legitimate deposits to genuine depositors, in compliance with the Hon’ble Supreme Court’s Order dated 29th March 2023.
To facilitate the process, the government launched the “CRCS-Sahara Refund Portal” (https://mocrefund.crcs.gov.in) on 18th July 2023.
The online portal allows depositors from four Multi-State Cooperative Societies of Sahara Group—Sahara Credit Cooperative Society Ltd. (Lucknow), Saharayn Universal Multipurpose Society Ltd. (Bhopal), Humara India Credit Cooperative Society Ltd. (Kolkata), and Stars Multipurpose Cooperative Society Ltd. (Hyderabad)—to submit claims for the refund of their legitimate deposits.
The entire disbursement process is digital and paperless, under the supervision of Justice R. Subhash Reddy, Former Judge of the Hon’ble Supreme Court, with the assistance of Shri Gaurav Agrawal, Amicus Curiae. Applications received on the portal are processed transparently, with proper identification and submission of proof of identity and deposits by the applicants, Shah informed.
He further added, “Currently, payments of up to Rs. 50,000/- are being directly deposited into the Aadhaar-seeded bank accounts of verified depositors. In cases where deficiencies in applications are identified, depositors are notified and can resubmit their applications through the resubmission portal, which was launched on 15th November 2023”.
This initiative is part of the government’s commitment to ensuring that genuine depositors receive their rightful refunds in a streamlined, transparent, and efficient manner.
