CRCS-Sahara refund portal will help crores of depositors get their money: Amit Shah
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Shah assured the depositors that now no one can stop their money and they will get refund in 45 days from registering on the portal.
New Delhi. Cooperation Minister Amit Shah launched the CRCS-Sahara refund portal on Tuesday. The purpose of this portal is to return the hard earned money of crores of people deposited in the four cooperative societies of Sahara Group in about 45 days. Calling it a historic moment, he said it is the first time depositors are getting their money back in a case where multiple government agencies are involved and each has attached assets. Shah assured the depositors that now no one can stop their money and they will get refund in 45 days from registering on the portal.
The government had said on March 29 that the money would be returned to the 10 crore investors of the four cooperatives within nine months. The announcement came after the Supreme Court ordered transfer of Rs 5,000 crore from the Sahara-SEBI refund account to the Central Registrar of Cooperative Societies (CRCS). He said initially depositors would get a refund of up to Rs 10,000 and later the amount would be increased for those who have invested more. He said the Rs 5,000 crore fund would be able to provide relief to 1.7 crore depositors in the first phase. About 2.5 crore people have deposits of up to Rs 30,000 each in four cooperative societies—Sahara Credit Cooperative Society Ltd., Saharayan Universal Multipurpose Society Ltd., Hamara India Credit Cooperative Society Ltd. and Stars Multipurpose Cooperative Society Ltd.
Shah said, after Rs 5,000 crore is given to the depositors, we will approach the Supreme Court and request them to release more money, so that other depositors with larger amount can be refunded in full. A subsidiary of IFCI has developed the portal for depositors of these co-operative societies to submit valid claims. Shah said that for this two things are necessary – Aadhaar registration with mobile and linking of Aadhaar with the bank account in which the refund is to be deposited. He said that the Common Service Centers would help the depositors to register online on the portal.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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