Sahara Refund Portal Launched: Check claim process, eligibility and other key details
Posted By: Shweta Khandal
Posted On: July 18, 2023
On Tuesday, the government created the CRCS-Sahara Refund Portal to help more than 10 crore people who deposited money in Sahara Group cooperative societies get their money back.
Union Minister Amit Shah, while introducing the refund portal, said, “We have now started the process of returning the money that depositors put in four cooperative societies of Sahara Group. This process has begun with the launch of the Sahara Refund Portal.”
According to a previous statement from the Ministry of Cooperation, they have created the Sahara Refund Portal for honest depositors of Sahara Group’s cooperative societies.
The portal is designed for people who have genuine claims and have deposited money in Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd.
Who will benefit?
The plan is to give back the money to 10 crore depositors of four cooperative societies (Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd) in just nine months.
This decision came after the Supreme Court’s order on March 29, which told them to move Rs 5,000 crore from the Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).
How to claim a refund online?
To access the Sahara Refund Portal, you can go directly to the Ministry of Cooperation’s website (https://cooperation.gov.in). Currently, the link may not be working, but it should be up and running soon.
If you are a genuine depositor of the mentioned cooperative societies in the Sahara Group, you can submit your claim by logging into the portal and filling out the online application form.
Make sure you upload all the necessary documents and have an Aadhaar-linked mobile number and a bank account for the claim process.
Within 30 days of submitting your claim application, the Sahara Group of Co-operative Societies will review and verify it.
Claim processing time
After the verification process, applicants will be notified about the status of their claim within 15 days. You will either receive a text message or see the update on the portal itself. The whole claim process is expected to take about 45 days.
It’s important to remember that you need to submit all your claims for the four societies in a single claim application form. There is no fee for submitting the form online, and you can only make refund claims through the online portal.
In the beginning, a total of Rs 5,000 crore will be given to genuine depositors through the portal. However, in the first phase, each depositor will receive only Rs 10,000.
If the first phase goes well and is successful, the refund amount will be increased.
Amit Shah mentioned that around 4 crore depositors can receive up to Rs 10,000, and if this effort works out, more steps will be taken to help those depositors who have larger amounts of money stuck in Sahara Group’s cooperative societies.
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