Indian government raises refund cap for Sahara Group depositors to Rs 50,000 following a Supreme Court order.
The Indian government has raised the refund cap for small depositors of Sahara Group Cooperative Societies from Rs 10,000 to Rs 50,000. This change follows a Supreme Court order and aims to expedite refunds through the CRCS-Sahara portal. So far, Rs 370 crore has been disbursed to over 4.29 lakh depositors, with an additional Rs 1,000 crore expected in the next 10 days. The process is overseen by Supreme Court Justice R. Subhash Reddy.
September 18, 2024
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