Sahara Refund Portal CRCS: The central government on Tuesday started the process to refund Rs 5,000 crore of depositors whose funds are struck in four cooperative societies of Sahara Group, a move that is likely to help crores of small investors awaiting return of their hard-earned savings. This article will explain how to register on the portal, who is eligible to claim refund and what are the documents required to file your request. The whole process is online and there is no fee involved in the process.
On March 29, the government had said money will be returned to 10 crore investors of the four cooperative societies within 9 months. The announcement followed a Supreme Court order directing transfer of Rs 5,000 crore from Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).
Sahara Refund Portal Launch
Launching a ‘CRCS-Sahara Refund Portal’ to facilitate the refund, Cooperation Minister Amit Shah said: “The process of returning the amount of Rs 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)”.
Sahara Refund Portal: Details Of Amount
Shah said the first payment up to Rs 10,000 will be made to one crore investors who had deposited Rs 10,000 or more. He informed that complete data of all the four societies is available online for applying on CRCS-Sahara Refund Portal.
To begin with, he said, depositors would get up to Rs 10,000 refund and subsequently the amount would be enhanced for those who have invested higher amounts.
The corpus of Rs 5,000 crore would be able to take care of the needs of 1.7 crore depositors in the first phase, he said.
All necessary provisions have been made in this process so that there is no scope for any kind of manipulation or injustice to any genuine investor, he said.
Investors in Sahara Group will have to link their Aadhaar card to mobile numbers and bank accounts.
Check below the claim process on the Sahara refund portal CRCS and Sahara refund portal link
What is CRCS Sahara Refund Portal?
The CRCS Sahara Refund Portal is an online platform designed for processing refunds of depositors of four Sahara Group Co-operative Societies as per the Supreme Court directive dated March 29, 2023.
Who is eligible for refund through the CRCS Sahara Refund Portal?
The genuine and legitimate Depositors of following four Sahara Societies are eligible for refund through the CRCS Sahara Refund Portal:
a. Humara India Credit Cooperative Society Limited, Kolkata.
b. Sahara Credit Cooperative Society Limited, Lucknow.
c. Saharayan Universal Multipurpose Society Limited, Bhopal.
d. Stars Multipurpose Cooperative Society Limited, Hyderabad
What is the eligibility criteria for filing a claim on the CRCS Sahara Refund Portal?
The Depositors must have made deposits & have outstanding dues receivable before the following dates, for filing a claim request:
March 22, 2022 for:
a. Humara India Credit Cooperative Society Limited, Kolkata.
b. Sahara Credit Cooperative Society Limited, Lucknow.
c. Saharayan Universal Multipurpose Society Limited, Bhopal.
March 29, 2023 for:
a. Stars Multipurpose Cooperative Society Limited, Hyderabad.
Are there any applicable charges for filing the claim form?
No, it’s free of cost.
What are the steps to register on the CRCS Sahara Refund Portal (https://mocrefund.crcs.gov.in/) and Sahara Refund Portal Link?
Step 1: Depositor Registration: Visit the Home Page of CRCS Sahara Refund Portal (https://mocrefund.crcs.gov.in/) and click on “Depositor Registration.”
Fill in the details like last 4 digits of your Aadhaar Card, and mobile number linked with Aadhaar, on the Registration Page accurately.
Click on “Get OTP” and enter the OTP received. Click “Verify OTP” to complete the mandatory registration process.
Step 2: Depositor Login: Visit the Home Page of CRCS Sahara Refund Portal and click on “Depositor Login”.
Fill in the details like last 4 digits of your Aadhaar Card, and mobile number linked with Aadhaar, on the Depositor Login Page accurately.
Click on “Get OTP” and enter the OTP received. Click “Verify OTP” to login.
What details does a Depositor need to provide with the Claim Request form/ Application?
The Depositor should have:
a. Membership no.
b. Deposit Account no.
c. Aadhaar linked Mobile no. (Mandatory)
d. Deposit certificates/ Passbook
e. PAN card (if claim amount is Rs. 50,000/- and above) (Mandatory).
Is PAN number mandatory if the total claim amount is Rs. 50,000 and above?
Yes, the Depositor has to provide details of PAN card mandatorily, if claim amount is Rs. 50,000/- and above, across all Sahara Societies
Are Aadhaar linked mobile number and bank account mandatory?
Yes, the Depositor should have Aadhaar linked mobile No. and Aadhaar seeded Bank account mandatorily without which, the claim request cannot be
filed on the Portal.
What documents have to be attached to submit a claim?
The Depositor should attach following documents:
a. Deposit certificate/ Passbook
b. Claim Request Form
c. PAN Card (if claim amount is Rs. 50,000/- and above)
Does the Depositor need to provide details of all deposits in a single claim form?
Yes, the Depositor has to provide details of all the deposits across all Sahara societies where Depositor has outstanding dues receivable by adding all the claim details, one by one, in a single claim form.
Can the Depositor add more claims after submitting the Claim Form?
No, the Depositor cannot add further claims once the Claim Form is submitted. Therefore, ensure that all the details are accurately entered and verified before submission.
How long will it take for the Sahara Societies to verify the claim?
The Sahara Societies will verify the claim and process in 30 days after successful submission of the claim.
Who will process the Depositor claim after verification by the Sahara Societies?
After verification by the Sahara Societies, the Authorised verifier and CRCS will process your claim in the next 15 days.
How will the Depositor receive the refund /claimed amount?
The refund of the claimed amount will be directly credited to the Depositor’s Aadhaar seeded bank account only after 45 days from the date of successful claim submission.
Depositors must note that only claims filed online through the portal will be entertained and there is no fee for submitting claims. For any technical problem(s) you may contact society’s toll free numbers 1800 103 6891 and 1800 103 6893. Also, a detailed FAQ has been provided on the refund portal.
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