Govt raises refund amounts cap for Sahara Group depositors to Rs 50,000

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Govt raises refund amounts cap for Sahara Group depositors to Rs 50,000 - Business Standard

Quick Summary:

The government has raised the cap on refund amounts for small depositors of the Sahara Group Cooperative Societies to Rs 50,000, up from the previous limit of Rs 10,000, a senior cooperation ministry official said on Wednesday.

The government has so far released Rs 370 crore to more than 4.29 lakh depositors of Sahara Group of Cooperative Societies through the CRCS-Sahara refund portal.

Last week, the cap on refund amount for small depositors was raised to Rs 50,000 each from Rs 10,000, the official said.