Over Rs 8,429 crore has been refunded to 39.46 lakh genuine depositors of Sahara Group of Cooperative Societies as on January 20, 2026, Union Minister for Cooperation Amit Shah informed the Lok Sabha on Tuesday.
In a written reply, Shah said the refunds are being made in compliance with the Supreme Court’s order dated March 29, 2023, under which Rs 5,000 crore was initially transferred from the Sahara-SEBI Refund Account to the Central Registrar of Cooperative Societies (CRCS) for disbursement to depositors. The process is being supervised by former Supreme Court judge Justice R. Subhash Reddy, assisted by Amicus Curiae Gaurav Agrawal.
To facilitate transparent refunds, the Ministry launched the CRCS-Sahara Refund Portal on July 18, 2023, enabling depositors of four Sahara multi-state cooperatives to submit claims online. The entire process is digital and paperless, with payments credited directly into Aadhaar-seeded bank accounts.
Currently, verified claims of up to Rs 50,000 per depositor are being settled. The Supreme Court has also approved transfer of an additional Rs 5,000 crore and extended the refund timeline till December 31, 2026.