Union Home Minister and Minister of Cooperation Amit Shah has launched the transfer of funds to the genuine depositors of Sahara Group of Cooperative Societies through the dedicated portal.
Union Home Minister Amit Shah on Sunday interacted with various social business delegations and was greeted by the depositors of the ‘CRCS-Sahara Refund Portal’ at a meeting in the BJP office in Raipur.
Union Home Minister and Minister of Cooperation Amit Shah on Tuesday launched ‘CRCS-Sahara Refund Portal’ here in the national capital for disbursement against the legitimate dues of the genuine depositors of the Sahara Group of Cooperative Societies.
Pune (Maharashtra) [India], June 20: The most essential feature that compels individuals to invest in FD is its stable interest rate. It is not exposed to market volatilities. Depositors can grow their money in a secure way since the interest rate they get remains unchanged. This is also the
One of the most prominent lenders in the world of technology startups, Silicon Valley Bank, which was struggling, first collapsed on March 10, after a run on the bank by the depositors.
One of the most prominent lenders in the world of technology startups, Silicon Valley Bank, which was struggling, first collapsed on March 10, after a run on the bank by the depositors.
US-based First Republic Bank was closed on Monday (local time) by the local regulators and entered into an agreement with JP Morgan Chase Bank to purchase and assume all deposits and assets of the troubled bank in a bid to protect depositors.
Earlier in the day, Supreme Court allowed a plea by the Centre seeking allocation of Rs 5,000 crore, out of Rs 24,000 crore deposited by the Sahara group with market regulator Sebi, to repay depositors of the cooperative societies.
Silicon Valley Bank collapsed on Friday, while New York-based Signature Bank was closed by the state regulators on Sunday (local time), becoming the second US bank to have collapsed.
"Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," read the statement.
"And the reforms that have been put in place mean that we're not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs," she added.
Union finance minister Nirmala Sitharaman on Monday said the processes for recovering money for depositors post bank loan write-offs are "layered", while noting that small depositors are put to "extreme difficulty" in the process of justice delivery.