New Delhi. The government has increased the limit of refundable amount for small depositors of Sahara Group cooperative societies from Rs 10,000 to Rs 50,000. A senior official of the Ministry of Cooperation gave this information on Wednesday. The government has so far released Rs 370 crore to more than 4.29 lakh depositors of Sahara Group cooperative societies through the CRCS (Central Registrar of Cooperative Societies)-Sahara Refund Portal.
The official said, “With the increase in the limit of refund amount to Rs 50,000, about Rs 1,000 crore will be paid in the next 10 days.” He said that last week the limit of ‘refund’ amount for small depositors was increased from Rs 10,000 to Rs 50,000. The government is carefully examining the claims of the depositors before issuing the ‘refund’. The CRCS-Sahara Refund Portal was introduced on July 18, 2023 to submit claims for refund of legitimate deposits of genuine depositors of four multi-state cooperative societies of the Sahara Group after the order of the Supreme Court.
These Sahamari societies are… Sahara Credit Cooperative Society Ltd., Lucknow, Saharayn Universal Multipurpose Society Ltd., Bhopal, Hamara India Credit Cooperative Society Ltd., Kolkata and Stars Multipurpose Cooperative Society Ltd., Hyderabad.
An amount of Rs 5,000 crore was transferred from the SEBI-Sahara refund account to the Central Registrar of Cooperative Societies (CRCS) on May 19, 2023 as per the court’s order dated March 29, 2023. Justice R Subhash Reddy, a judge of the apex court, is looking into the matter of digital distribution of money.