BJP's Big Promise in Jharkhand: Sahara Investors to Get Refund..!?
BJP's Big Promise in Jharkhand: Sahara Investors to Get Refund..!?
The bharatiya janata party (BJP) has made a significant promise to the people of Jharkhand, vowing to return every penny invested in Sahara's chit fund scheme. This scheme, which attracted millions of indians from lower-income groups, had been marred by controversy after Sahara refused to return investors' money, leading to a supreme court order to repay Rs 24,000 crore.
Sahara Scam: A Brief Background:
The Sahara Group, founded by Subrata Roy in 1978, promised incredible returns on investments. However, the group's fortunes took a downturn when it failed to pitch new investors, compelling them to bring an Initial Public Offering (IPO). The Securities and Exchange Board of india (SEBI) then investigated the group, revealing a financial scandal involving housing bonds issued by two Sahara companies.
The bharatiya janata party (BJP) has made a significant promise to the people of Jharkhand, vowing to return every penny invested in Sahara's chit fund scheme. This scheme, which attracted millions of indians from lower-income groups, had been marred by controversy after Sahara refused to return investors' money, leading to a supreme court order to repay Rs 24,000 crore.
Sahara Scam: A Brief Background:
The Sahara Group, founded by Subrata Roy in 1978, promised incredible returns on investments. However, the group's fortunes took a downturn when it failed to pitch new investors, compelling them to bring an Initial Public Offering (IPO). The Securities and Exchange Board of india (SEBI) then investigated the group, revealing a financial scandal involving housing bonds issued by two Sahara companies.
Government's Efforts to Refund Investors:
The government has launched the CRCS Sahara refund portal, allowing eligible depositors to claim refunds. The portal is expected to benefit approximately one crore depositors, with the first payment of up to Rs 10,000 to be made to investors who deposited Rs 10,000 or more.
Eligibility Criteria and Refund Process:
To qualify for a refund, depositors must have invested in one of the four Sahara Group cooperative societies directed by the supreme court of India. The refund process involves registering on the portal, providing personal information, and submitting claims and investment details.
The government has launched the CRCS Sahara refund portal, allowing eligible depositors to claim refunds. The portal is expected to benefit approximately one crore depositors, with the first payment of up to Rs 10,000 to be made to investors who deposited Rs 10,000 or more.
Eligibility Criteria and Refund Process:
To qualify for a refund, depositors must have invested in one of the four Sahara Group cooperative societies directed by the supreme court of India. The refund process involves registering on the portal, providing personal information, and submitting claims and investment details.