NEW DELHI: In an exciting development, Union Home and Cooperation Minister Amit Shah has unveiled the CRCS-Sahara Refund Portal, a groundbreaking platform designed to expedite the reimbursement process for over 10 crore depositors associated with the Sahara Group. This initiative guarantees a swift return of funds, ensuring that no obstacles hinder the rightful repayment. Upon registering on the portal, depositors can anticipate receiving their refunds within a remarkable 45-day period.

Marking a significant milestone, Shah emphasized that this occurrence is unparalleled, as it involves multiple government agencies and necessitates the release of seized assets for the refund to transpire. With utmost assurance, the minister confidently stated, "There is no longer any impediment to the retrieval of your funds. By adhering to the registration process on the portal, depositors can rest assured of their refund within 45 days."

Under this initiative, depositors will be eligible for refunds up to Rs 10,000, with plans to augment the reimbursement amounts for those who have invested larger sums. Initially, a corpus of Rs 5,000 crore has been allocated to accommodate the needs of 1.7 crore depositors during the first phase. Should the allocated funds be exhausted, the government will approach the Supreme Court, urging them to release additional resources to ensure that depositors with higher investment amounts receive their refunds promptly.

Shah highlighted two vital prerequisites for depositors: Aadhaar registration, linking their mobile number with the portal, and Aadhaar-linking with the designated bank account for seamless deposit of refunds. To further streamline the process, the Common Services Centre (CCS) will provide guidance and assistance to depositors seeking online registration on the refund portal.

The CRCS Portal has been meticulously designed to facilitate the submission of legitimate claims from genuine depositors associated with four Cooperative Societies, namely Sahara Credit Cooperative Society Ltd., Saharayn Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd., and Stars Multipurpose Cooperative Society Ltd.

In an official statement on March 29, the government pledged to return the funds to 10 crore investors associated with the four cooperative societies of Sahara Group within a span of 9 months. This commitment followed a directive from the Supreme Court, mandating the transfer of Rs 5,000 crore from the Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).

With the advent of the CRCS-Sahara Refund Portal, the path to financial restitution has been paved for 10 crore depositors. Amit Shah's resolute efforts and this pioneering digital platform bring hope to countless individuals awaiting the reimbursement they rightfully deserve.

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