How Much Has Been Disbursed to Depositors from the Sahara Refund Portal?
Synopsis
The Sahara Refund Portal has facilitated the disbursement of over Rs 8,429 crore to millions of depositors. With an extended deadline for refunds and a transparent processing system, this initiative aims to ensure that genuine depositors receive their rightful amounts efficiently.
Key Takeaways
Rs 8,429.42 crore has been refunded to 39,46,550 depositors .
The largest refunds were in Uttar Pradesh , Bihar , and Jharkhand .
Transparency in processing claims is a key focus.
Refunds up to Rs 50,000 are being provided to verified depositors.
Extended deadline for claims until December 31, 2026 .
New Delhi, Feb 3 (NationPress) A total of Rs 8,429.42 crore has been distributed to 39,46,550 depositors of the Sahara Group of Cooperative Societies as of January 20, 2026, according to a statement from the Ministry of Cooperation released on Tuesday.
The largest share of Rs 2,228.27 crore has been refunded to depositors in Uttar Pradesh, followed by Rs 1,892.89 crore in Bihar, and Rs 847.67 crore to depositors in Jharkhand.
The Supreme Court has mandated that an additional Rs 5,000 crore be transferred from the ‘Sahara-SEBI Refund Account’ to the Central Registrar of Cooperative Societies and extended the deadline for refund distribution to depositors until December 31, 2026, as stated.
Claims submitted via the Sahara Refund Portal are being processed transparently, requiring proper identification and proof of both identity and deposits. Payments are directly credited to the Aadhaar-linked bank accounts of eligible depositors. Currently, refunds up to Rs 50,000 are being provided to each verified depositor of the Sahara Group of Cooperative Societies, based on confirmed claims through Aadhaar-linked accounts, the statement noted.
Furthermore, if any issues arise with a depositor’s application on the portal, these deficiencies are communicated for re-submission through the re-submission portal, which was launched on November 15, 2023.
The Supreme Court issued an order on March 29, 2023, directing that from the total amount of Rs. 24,979.67 crore held in the “Sahara-SEBI Refund Account,” Rs 5,000 crore be allocated to the Central Registrar of Cooperative Societies. This amount is to be distributed against the legitimate claims of Sahara Group depositors, ensuring transparency and proper identification before payments are made directly to their bank accounts.
In line with the Supreme Court’s directive, the Online Portal “CRCS-Sahara refund portal” (https://mocrefund.crcs.gov.in) was launched on July 18, 2023 for genuine depositors from four Multi-State Cooperative Societies of the Sahara Group: Sahara Credit Cooperative Society Ltd., Lucknow, Saharayn Universal Multipurpose Society Ltd., Bhopal, Humara India Credit Cooperative Society Ltd., Kolkata, and Stars Multipurpose Cooperative Society Ltd., Hyderabad, to claim refunds for their legitimate deposits.
This distribution process is overseen by former Supreme Court judge, Justice R. Subhash Reddy, with support from Advocate Gaurav Agarwal, appointed as Amicus Curiae, alongside the Central Registrar of Cooperative Societies, to ensure that the funds are disbursed to genuine Sahara Group depositors appropriately.
Point of View
It is our duty to convey the importance of this financial initiative, which aids numerous depositors. The Sahara Refund Portal not only addresses the pressing need for transparency but also showcases the government's commitment to restoring trust in cooperative financial systems. This is a pivotal moment for depositors seeking justice.
NationPress
11 May 2026
Frequently Asked Questions
How much money has been disbursed to depositors?
As of January 20, 2026, Rs 8,429.42 crore has been disbursed to 39,46,550 depositors.
What is the deadline for refund disbursements?
The deadline for the disbursement of refunds has been extended to December 31, 2026.
How is the refund process being managed?
The refund process is managed transparently via the Sahara Refund Portal, requiring proper identification and proof of deposits.
Where can depositors submit their claims?
Depositors can submit their claims through the Online Portal 'CRCS-Sahara refund portal' at https://mocrefund.crcs.gov.in.
What measures are in place to ensure transparency?
The process is overseen by Justice R. Subhash Reddy and involves the Central Registrar of Cooperative Societies to ensure transparency in disbursements.
