NEW DELHI: The Centre on Tuesday launched the Central Registrar of Cooperative Societies (CRCS)-Sahara Refund Portal, which aims to refund the money of millions of depositors in four cooperative societies of the Sahara Group within 45 days.
Union Home Minister and Minister of Cooperation Amit Shah launched the portal https://mocrefund.crcs.gov.in. It has been developed for the submission of claims by genuine depositors of cooperative societies of Sahara Group — Sahara Credit Cooperative Society, Saharayan Universal Multipurpose Society, Hamara India Credit Cooperative Society and Stars Multipurpose Cooperative Society.
He said the “process of returning the amount of Rs 5,000 crore to the investors is starting today in a transparent manner on a trial basis,” adding that after the completion of the Rs 5,000 crore payment, another appeal will be made in the Supreme Court for returning the amount to remaining investors.
The minister said through this portal, the first payment of up to Rs 10,000 will be made to one crore investors who had deposited Rs 10,000 or more. He said that complete data of all four societies is available online for application on this portal. He said that all necessary provisions have been made in this process so that there is no scope for any kind of manipulation or injustice to any genuine investor.
In his address, Shah said that this programme is important because the concerns of people whose hard-earned money is stuck in these four cooperative societies were not paid attention to. In such cases, generally, multi-agency seizure often happens but no agency thinks about the investor. He added that this leads to feelings of great insecurity and mistrust towards cooperative societies.
The minister said that crores of people do not have capital but they want to contribute to the development of the country. In this context, co-operative is the only movement in which big works can be done by combining small capital to create big capital, he said.