5 lakh Sahara investors have registered on refund portal, says Amit Shah

Within days of launching the portal for refund of deposits in Sahara Group's cooperative societies, Cooperation Minister Amit Shah on Friday said that five lakh investors have registered on the platform and the process of returning their money has begun.

On July 18, the 'CRCS-Sahara Refund Portal' was launched to facilitate return the monies of investors stuck in four cooperative societies of Sahara Group.

Earlier, the government said money will be returned to 10 crore investors of the four cooperative societies within 9 months.

The announcement followed a Supreme Court order directing the transfer of Rs 5,000 crore from Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).

Addressing the National Mega Conclave on the launching of Common Services Centre (CSC) services by Primary Agricultural Credit Societies (PACS) here, Shah said till now 5 lakh people have registered in the portal and the process of refunding the money to the genuine depositors has started.

He said this is a "great example" of the fact that if a government works in a proactive manner even the most complex problems can be solved.

The portal has been developed for submission of claims by genuine depositors of Cooperative Societies of Sahara Group -- Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited and Stars Multipurpose Cooperative Society Limited.