A social media post by Vinay Shanker Prasad has brought renewed scrutiny on refund delays at Sahara Credit Cooperative Society Limited, with allegations that depositors are being issued unjustified “deficiency intimations.”
In his post, Prasad stated that both he and his son received identical deficiency notices despite submitting all required documents accurately through the official portal. The notices cited discrepancies such as mismatch in Aadhaar name, incorrect account number, membership number, and even society name.
He maintained that all details were entered exactly as per official documents, including passbooks and certificates, terming the objections “baseless.” The duplication of notices, he argued, suggests that such intimations may be generated without proper verification.
Prasad further alleged that these repeated objections are delaying refunds, even as the society maintains that payments are being processed.
The post highlights growing frustration among depositors, with calls for greater transparency and a more robust verification and grievance redressal mechanism to ensure timely settlement of claims.
