Sahara India Investors Relief Efforts: A Closer Look | 24 Sep 2024

Why in News?

The Sahara India Group has been embroiled in a financial crisis, leaving millions of investors across India, including 33,000 from Bihar, struggling to recover their money.

Key Points:

• Approximately Rs. 1 lakh crore from around 10 crore investors nationwide is trapped in four cooperative societies of the Sahara India Group.
• Among them are 33,000 investors from Bihar, with Rs. 410 crore stuck.
• The central government has initiated efforts to return the money, with some investors already receiving Rs. 10,000.
  • Now, the refund limit has been raised to Rs. 50,000.
• Sahara India Group has launched the CRC Sahara Refund Portal, through which investors can claim their pending amounts.
• The district administration has also provided details about the portal on its official website. Investors are encouraged to promptly submit their claims through the portal to expedite the refund process.