10 crore people trapped in Sahara will get their money back: ‘Refund Portal’ started, know the process; Raised over 86,000 crore from investors.

The trapped money of 10 crore people who invested in 4 co-operative societies of Sahara India will be returned. It is starting with Rs 5,000 crore and 4 crore investors. Union Home and Cooperation Minister Amit Shah launched ‘Sahara Refund Portal’ in Delhi. These societies raised more than Rs 86,000 crore from investors.

Shah said that investors of Sahara will get their money back in 45 days from the date of application through this portal. This money will be directly transferred to the account. Only investors of Sahara’s 4 co-operative societies can apply through the portal. States like Bihar, Jharkhand, Uttar Pradesh, Madhya Pradesh have the highest number of investors among them.

Any depositor of the first three societies mentioned in the above chart who deposited money before March 22, 2022 is eligible for refund. On the other hand, investors of Stars Multipurpose Co-operative Society Limited Hyderabad can apply before March 29, 2023.

Currently only refund up to Rs 10,000 will be available.

In the first phase, depositors will get a refund of up to Rs 10,000 only. That is, even if the deposit amount is Rs 20,000, only Rs 10,000 will be transferred. There are about 1.07 crore investors who will get full money as their investment is up to Rs 10,000.

Shah said that a total of 4 crore investors will be given refund in the first phase. After refund of Rs 5000 crores, we will go to Supreme Court and request them to release more funds so that investors with amount above 10,000 crores can be returned in full.