NEW DELHI, India — More than Rs 8,429 crore has been disbursed to nearly 3.95 million depositors of Sahara Group cooperative societies as of January 20, 2026, according to a statement issued Tuesday by the Ministry of Cooperation.
The ministry said a total of Rs 8,429.42 crore has been paid to 39,46,550 depositors through the Sahara Refund Portal. Uttar Pradesh accounted for the largest share of refunds at Rs 2,228.27 crore, followed by Bihar with Rs 1,892.89 crore and Jharkhand with Rs 847.67 crore.
The Supreme Court has also directed that an additional Rs 5,000 crore be transferred from the Sahara-SEBI Refund Account to the Central Registrar of Cooperative Societies. The court has granted an extension for the disbursement of refunds to eligible depositors through December 31, 2026.
According to the ministry, applications submitted through the refund portal are being processed in a transparent manner after proper verification of identity and deposit records. Payments are being credited directly to Aadhaar-seeded bank accounts of verified depositors. At present, refunds of up to Rs 50,000 are being released per genuine depositor against approved claims.
Officials said that if deficiencies are found in an application, depositors are notified and asked to resubmit their claims through the re-submission portal, which was launched on November 15, 2023.
The refund process follows a Supreme Court order issued on March 29, 2023, directing that Rs 5,000 crore from the total Rs 24,979.67 crore lying in the Sahara-SEBI Refund Account be transferred to the Central Registrar of Cooperative Societies. The court instructed that the funds be disbursed directly to legitimate depositors after proper identification and verification of claims.
In line with the order, the CRCS-Sahara Refund Portal was launched on July 18, 2023, to enable depositors of four Sahara Group multi-state cooperative societies to submit claims for refunds of their deposits.
The refund exercise is being supervised and monitored by former Supreme Court judge Justice R. Subhash Reddy, with assistance from advocate Gaurav Agarwal, who was appointed amicus curiae, along with the Central Registrar of Cooperative Societies, the ministry said. (Source: IANS)
