Relief for Sahara investors as process to return money begins

New Delhi, July 18

Union Minister for Cooperation Amit Shah on Tuesday launched “CRCS-Sahara Refund Portal”, which is aimed at refunding the hard-earned money of crores of depositors in four cooperative societies of the Sahara Group in about 45 days.

Shah launches refund portal

• To begin with, each depositor would get up to Rs 10,000 refund and subsequently the amount would be enhanced for those who have invested higher amounts
• In the first phase, the corpus of Rs 5,000 crore would be able to take care of 1.7 crore duped depositors

Launching the portal, Shah termed it a historic moment, as he said this is the first time when depositors are getting refunds in a case where multiple government agencies are involved and each one has done seizures.

The minister assured the depositors that no one can stop their money now and that they will get the refund within 45 days after registering on the portal.

On March 29, the government had said money would be returned to 10 crore investors within nine months.