The Centre has started the process to refund ₹5,000 crore of depositors whose funds are struck in four cooperative societies of Sahara Group. Launching a ‘CRCS-Sahara Refund Portal’ to facilitate the refund, Cooperation Minister Amit Shah on Tuesday said: “The process of returning the amount of ₹5,000 crore to the investors is starting today in a transparent manner on a trial basis. This is the beginning of the refund of monies to the depositors (of Sahara Group)”. The portal has been developed by a subsidiary of IFCI.
Sahara Refund Portal direct online link
The link to the website to apply for Sahara Refund online is https://mocrefund.crcs.gov.in
Sahara refund: Who can apply?
Eligible depositors of listed below four Sahara group societies can apply for a refund on the CRCS Sahara Refund Portal.
1)Sahara Credit Cooperative Society Ltd.
2)Saharayan Universal Multipurpose Society Ltd.
3)Humara India Credit Cooperative Society Ltd.
4)Stars Multipurpose Cooperative Society Ltd
Sahara Refund: How to apply on the portal?
The depositor’s Aadhaar should be linked to their mobile numbers and bank accounts. They will have to provide receipt details also.
How long will it take to get a refund?
Amit Shah assured that the money will be deposited into the bank account of the claimants within 45 days.
Sahara Refund portal will benefit investors
“The portal will initially benefit about one crore depositors,” Amit Shah said on Tuesday. He added that approximately 1.78 crore small investors, whose money up to ₹30,000 is stuck, will get their money back and it is a great achievement.
Sahara Refund: Eligibility
Depositors of the three following societies who have deposited before March 22, 2022
Sahara Credit Cooperative Society Limited
Saharayan Universal Multipurpose Society Limited
Hamara India Credit Cooperative Society Limited
Depositors of the following society who have deposited before March 29, 2023
Stars Multipurpose Cooperative Society Limited.
Sahara Refund Portal: How to apply?
-Go to CRCS Sahara Refund Portal
-Enter your 12-digit Membership Number, the last 4 digits of your Aadhaar Number, your 10-digit Aadhaar-linked Mobile Number, and the Captcha. Then click “Get OTP.”
-Now, enter the OTP
– Once logged in, give your consent as prompted by Aadhaar.
-On the next page, accept the terms and conditions by clicking “I agree.”
-Enter your 12-digit Aadhaar Number and click “Get OTP.”
-Enter the OTP and click “Verify OTP.”
-After verifying the OTP, you will see your Aadhaar user details displayed.
-Enter the details displayed on the Certificate of Deposit.
-Click “Submit Claim” to view all the details.
-Once all the claim details are entered, the pre-filled claim request form will be prepared. Please ensure all claims are entered before preparing the form, as it cannot be changed or added later.
-Affix your latest photograph and sign the claim form along with the photograph.
-Upload the claim form and a copy of your PAN card on the “Upload Document” screen. (PAN card is mandatory if the claim amount is Rs50,000 or more)
-Make sure to note down the claim request number. Make sure to note down the claim request number for future reference.
How much money will be refunded?
Elaborating on the process to be followed by the depositors, Shah said the first payment of up to ₹10,000 will be made to one crore investors who had deposited ₹10,000 or more.
How long will it take to get a refund?
“I assure you the money will be deposited into their bank accounts within 45 days,” Shah said.
You can check the full details about the refund in the FAQ shared on the Sahara Refund Portal. Link here