Launch of CRCS-Sahara India Refund Portal

  • The Supreme Court ordered the transfer of Rs. 5000 Crores from the Sahara-SEBI Refund Account to the Central Registrar of Cooperative Societies.
  • The Central Registrar of Cooperative Societies will disburse the amount against the legitimate dues of the Sahara Group of Cooperative Societies. 
  • The disbursement will be supervised and monitored by Justice R. Subhash Reddy, former Judge of the Supreme Court, and Shri Gaurav Agarwal, Amicus Curiae. 
  • The CRCS-Sahara refund portal was launched on 18.07.2023 for the submission of claims by the genuine depositors of four Multi-State Cooperative Societies of Sahara Group. 
  • The process of disbursement is digital and paperless, with payments deposited directly in the Aadhaar bank account of the depositors. 
  • Currently, only up to Rs.10, 000/- is disbursed to each genuine depositor of the Sahara Group of Cooperative Societies against verified claims. 
  • There are no technical issues or internet access issues in the submission of claims. 
  • A total of around 1.21 Crore applications have been registered on the “CRCS-Sahara Refund Portal,” and an amount of Rs.258.47 Crore has been released to 2,77,607 depositors of Sahara Group of Cooperative Societies up to 31.01.
Posted in Current Affairs.