The Central Registrar of Cooperative Societies (CRCS)-Sahara Refund Portal started on July 18, 2023. It helps process refunds for Sahara Group Co-operative Societies depositors. The Union Home Minister said the first payment of up to Rs 10,000 will go to one crore investors who put in Rs 10,000 or more.
Claims must be made online through this site to get a refund. There’s no fee for filing a claim.
The Supreme Court ordered Rs 5,000 crore from the “Sahara-SEBI Refund Account” to the CRCS. This money will help the real depositors of the Sahara Group of Cooperative Societies. This includes people from Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited, and Stars Multipurpose Cooperative Society Limited.
Eligible depositors can sign up on the CRCS-Sahara refund portal. They can claim up to Rs 10,000 for their verified claims in the first phase. About 1 crore and 7 lakh investors who put in Rs 10,000 or more are eligible for this payment.
Around 4 crore depositors can claim up to Rs 10,000 each from the Sahara-SEBI Refund Account.
Sahara India Refund: An Overview
The Sahara India Refund is a big step to give back money to investors with the Sahara Group. This group is a big name in India. After a Supreme Court order, Rs. 5,000 crores from the ‘Sahara SEBI Refund Account’ went to the Central Registrar of Cooperative Societies (CRCS). Now, this money will go to real members of the Sahara Group of Cooperative Societies.
What is the Sahara India Refund?
The Sahara India Refund is about giving back money to those who put it in with the Sahara Group. The Supreme Court made a rule that started the Sahara Refund portal. This portal was opened on July 18, 2023. It helps with claims and giving out money.
The Sahara Group Cooperative Societies Involved
Those who can get money back are members of four Sahara Cooperative Societies:
- Humara India Credit Cooperative Society Limited, Kolkata
- Sahara Credit Cooperative Society Limited, Lucknow
- Saharayan Universal Multipurpose Society Limited, Bhopal
- Stars Multipurpose Cooperative Society Limited, Hyderabad
The Sahara Refund portal lets these real depositors claim their money back. This makes the process clear and fair.
| Cooperative Society | Deposit Deadline |
|---|---|
| Humara India Credit Cooperative Society Limited, Kolkata | Before March 22, 2022 |
| Sahara Credit Cooperative Society Limited, Lucknow | Before March 22, 2022 |
| Saharayan Universal Multipurpose Society Limited, Bhopal | Before March 22, 2022 |
| Stars Multipurpose Cooperative Society Limited, Hyderabad | Before March 29, 2023 |
It usually takes about 45 days to process a claim and put the money in the depositor’s bank. This makes sure investors get their money back quickly and without trouble.
The Sahara India Refund is a big step forward. It helps fix old problems for investors. If it works well, it can make people trust the financial system more and encourage more investments.
The CRCS Sahara Refund Portal
The Sahara Refund portal was made by the Ministry of Cooperation. It helps refund money to Sahara Group depositors. It was launched on July 18, 2023. Now, Sahara investors can use this platform to get back what’s theirs.
Purpose and Launch of the Portal
The portal was shown in New Delhi by the Union Home Minister and Minister of Cooperation. They followed a Supreme Court order. The main goal is to give refunds to Sahara Group depositors in 45 days.
It uses digital tech for easy and clear refunds. This makes getting back money smooth for users.
At first, the crcs sahara refund portal will give refunds up to INR 100,000 from May 14. Then, from May 20, 2024, claims up to INR 500,000 can be made. Later, claims over INR 500,000 will be accepted too.
The first refund of up to Rs 10,000 will go to one crore investors who put in Rs 10,000 or more.
The sahara refund portal launch is a big step for the Ministry of Cooperation. It’s all about giving justice and money back to Sahara Group investors. The goal is to give refunds in 45 days if there’s enough money.
“The launch of the ministry of cooperation sahara refund portal is a crucial milestone in our commitment to protecting the interests of Sahara Group investors. We are dedicated to ensuring a transparent and efficient refund process that restores the trust and confidence of the affected depositors.”
– Union Home Minister and Minister of Cooperation
Eligibility Criteria for Sahara India Refund
To get a refund from Sahara India, you must follow certain rules. These rules are set by the Central Registrar of Cooperative Societies (CRCS). Here are the main things you need to know:
Depositor Requirements and Deadlines
- Deposits must have been made before March 22, 2022 for Humara India Credit Cooperative Society Limited, Sahara Credit Cooperative Society Limited, and Saharayan Universal Multipurpose Society Limited.
- For Stars Multipurpose Cooperative Society Limited, the deadline for deposits is March 29, 2023.
- Depositors must have outstanding dues receivable from the respective Sahara group cooperative societies to be eligible for a refund.
- Depositors must have their Aadhaar card linked to their mobile number and bank account to file a claim.
The Supreme Court has ordered ₹5,000 crore to be moved from the Sahara-SEBI Refund Account to the CRCS account. This money will be given to genuine depositors. In the first step, ₹10,000 will be given to one crore investors.
| Sahara Group Cooperative Society | Deposit Deadline |
|---|---|
| Humara India Credit Cooperative Society Limited | March 22, 2022 |
| Sahara Credit Cooperative Society Limited | March 22, 2022 |
| Saharayan Universal Multipurpose Society Limited | March 22, 2022 |
| Stars Multipurpose Cooperative Society Limited | March 29, 2023 |
Make sure you meet all the requirements and deadlines to get your refund from the Sahara India Refund Portal.
sahara india refund
The Sahara India Refund is a big effort to give back money to investors who put their money with the Sahara Group. The Ministry of Cooperation is leading this. They want to protect the rights of real investors.
The government moved Rs. 5,000 crores from the ‘Sahara SEBI Refund Account’ to the Central Registrar of Cooperative Societies (CRCS). This money will go to those who are eligible. This shows the government’s promise to give back the money to its rightful owners.
Changes have been made in the refund process. Before, you could only apply for refunds up to Rs. 10,000. Now, you can apply for up to Rs. 19,999. This change makes it easier for people to get their money back.
| Key Details | Values |
|---|---|
| Previous Application Limit | ₹10,000 |
| Revised Application Limit | ₹19,999 |
| Total Amount in “Sahara-SEBI Refund Account” | Rs. 24,979.67 Crores |
| Amount Transferred for Disbursement | Rs. 5,000 Crores |
| Number of Multi-State Cooperative Societies Eligible | Four |
| Maximum Amount Disbursed per Depositor | Rs. 10,000 |
Some cooperative societies are eligible for refunds. These include Sahara Credit Cooperative Society Ltd., Saharayn Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd., and Stars Multipurpose Cooperative Society Ltd.
The government has set up the “CRCS-Sahara refund portal” for claims. It’s important to apply on time and provide the needed documents. This includes things like Aadhaar, passport, voter ID, and more.
As the Sahara India Refund process goes on, it’s important for investors to keep up with the news. By working together, the government and investors can solve this issue fairly and openly.
Documents Required for Claiming Refund
Mandatory Documents and Information
To get a refund from Sahara India Cooperative Societies, you need some important documents and info. You’ll need your Sahara deposit certificate or passbook, a claim request form, and a PAN card if your claim is over Rs 50,000.
You also need your Aadhaar-linked mobile number and an Aadhaar-seeded bank account. The refund will go straight to this account within 45 days of your claim.
The Sahara Societies will check your documents, like the Deposit Certificate or Passbook. They follow CRCS norms for this.
Remember, you must file your claim online through the CRCS-Sahara Refund Portal. This portal helps eligible Sahara Group Cooperative Societies depositors get their refunds.
Key Sahara Refund Documents and Information
- Sahara Deposit Certificate or Passbook: This proves you invested and shows how much is owed to you.
- Claim Request Form: Fill and submit this form through the CRCS-Sahara Refund Portal.
- PAN Card: If your claim is Rs 50,000 or more, you must have a valid PAN card.
- Aadhaar-linked Mobile Number: Your mobile must be linked to your Aadhaar card.
- Aadhaar-seeded Bank Account: Your refund will go to this bank account linked to your Aadhaar.
Having all these documents and info ready helps make the Sahara India refund process smoother. It also boosts your chances of a successful claim.
Registration Process on the Sahara Refund Portal
The first step for depositors seeking a refund from the Sahara India Refund Portal is to register on the platform. This simple process has a few key steps. Follow them carefully:
- Visit the official Sahara Refund Portal and click on the “Depositor Registration” tab.
- Enter the last 4 digits of your Aadhaar number, your mobile number, and the captcha code displayed on the screen.
- Verify your identity by entering the one-time password (OTP) sent to your registered mobile number.
- After successful registration, you can log in to the portal using the same details (last 4 digits of Aadhaar, mobile number, and OTP).
The Sahara Refund Portal was launched on July 18, 2023. It helps Sahara India investors and depositors claim their refunds. The portal aims to give back ₹5,000 crore to Sahara Group investors. It also offers the first payment of up to ₹10,000 for some investors who put in ₹10,000 or more.
The registration process is easy and quick. By giving details like the last 4 digits of their Aadhaar and mobile number, depositors can prove who they are. This makes it easy for them to get into the portal.
After registering, depositors can log in and start the refund claim. The Sahara Refund Portal makes the whole process clear and easy. It helps eligible depositors get their refunds fast.
Step-by-Step Guide to Apply for Refund
Navigating the Refund Application Process
The Sahara India refund process is easy and clear for those who qualify. To get a refund, log in to the Sahara Refund portal. This portal was opened on July 18, 2023, by Amit Shah, the Union Home Minister and Minister of Cooperation.
First, agree to the rules set by the Unique Identification Authority of India (UIDAI). Then, fill in your personal info, like your Aadhaar number, which will be filled in for you.
Next, check your Aadhaar details and look at your bank account info. If your bank details are right, you can move on. If not, you can change them.
- Login to the Sahara Refund portal and accept the UIDAI terms and conditions.
- Enter your personal details, including your Aadhaar number, which will be auto-filled.
- Verify your Aadhaar details and check the pre-filled bank account information.
- If the bank details are correct, proceed to the next step. If not, update the information.
- Add your refund claim by filling out the necessary fields on the application form.
- Download the claim form, fill it out with your latest photograph and signature, and then upload it to the portal.
- Attach your PAN card and any other required documents, such as your Aadhaar card, to complete the application process.
After you apply for a refund, you’ll get an acknowledgment number. This number helps you track your claim. The refund process takes about 45 days. You’ll get updates on your claim’s status through text messages.
The Sahara refund portal makes getting a refund easy for Sahara Group cooperative society members. Just follow the steps to apply smoothly and efficiently.
Sahara India Refund Form Submission
Downloading, Filling, and Uploading the Form
To get your Sahara India Refund, you must submit a form. First, log into the CRCS Sahara Refund Portal and give your personal and Aadhaar details. Then, you can download the form.
Make sure to add your photo and sign it before uploading the form. This is a key step in the refund process.
Depositors must check they meet all the requirements. This means giving correct info, attaching needed documents, and following the portal’s instructions. After you submit the form, you’ll get an SMS and an acknowledgment number on your mobile.
The Sahara India Refund Form is vital for getting back your money. Download, fill, and upload it to move forward with your claim. The CRCS Sahara Refund Portal helps make this easy and safe.
- Download the Sahara Refund Form by logging into the CRCS Sahara Refund Portal.
- Enter your personal and Aadhaar details to generate the claim request form.
- Affix your photo and signature on the downloaded PDF form.
- Upload the completed form on the Sahara Refund Portal.
- Receive an acknowledgment number and SMS upon successful submission.
Getting the Sahara India Refund Form right is key to getting back your money. Just follow the steps to make the refund process smooth and fair for everyone.
“The Sahara Refund Portal is a game-changer, providing a seamless and secure platform for eligible depositors to reclaim their rightful investments. By following the steps to download, fill, and upload the refund form, we can collectively ensure that justice is served and the affected individuals receive the financial relief they deserve.”
Refund Status Tracking and Timeline
After you send in a claim for the Sahara India refund, you can track its status online. Just log into the refund portal with your Aadhaar details and mobile number. Then, verify with an OTP to see your claim’s status on the login page.
The Sahara Societies will check your claim and process it in 30 days if it’s successful. Once checked, the CRCS will handle it for 15 more days. Then, the money will go straight to your bank account linked to your Aadhaar in 45 days.
The Sahara refund process works to give quick help to those who are eligible. From when you submit your claim to when you get your refund, it should take 45 working days. Keep checking the portal and use the helpline for any help with your refund status.