If you are one of the millions of depositors who have been waiting to reclaim their hard-earned money from Sahara Group, there is good news for you. The Central Registrar of Cooperative Societies (CRCS), under the Ministry of Cooperatives, Government of India, has launched the Sahara India Refund Portal. This portal aims to streamline the refund process and provide a transparent platform for depositors to claim their money back. In this comprehensive guide, we will walk you through the entire process of applying for a refund on the Sahara Refund Portal and provide all the necessary information you need to know.
Understanding the Sahara Refund Portal
The Sahara Refund Portal is a user-friendly website that allows eligible depositors to submit their claims and request a refund for their invested funds. The portal was officially launched by the Union Home Minister and Minister of Cooperation, Amit Shah, on July 18, 2023. This initiative is a result of the Supreme Court’s directive to the Sahara Credit Cooperative Society Limited (CRCS) to allocate a substantial sum of Rs. 5,000 crore specifically for the purpose of refunding these claims.
Who Can Apply?
Eligible depositors of four Sahara group societies – Sahara Credit Cooperative Society Ltd., Saharayan Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd., and Stars Multipurpose Cooperative Society Ltd – can apply for a refund on the Sahara Refund Portal.
How to Apply Online on the Sahara Refund Portal?
Applying for a refund on the Sahara Refund Portal is a simple and straightforward process. Follow these steps to initiate your refund application:
- Visit the official website of the Sahara Refund Portal: mocrefund.crcs.gov.in.
- Click on the “Register” button to create a new account.
- Fill in the required details, including your mobile number, Aadhaar number, and other necessary information.
- Verify your email address to complete the registration process.
- Once registered, log in to the portal using your credentials.
- Review the features and instructions provided on the portal for a smooth application process.
- Fill out the online refund request form with accurate details.
- Upload the necessary documents, ensuring they meet the permitted file size requirements.
- Double-check all the details and supporting documentation before submitting the refund request.
- Click on the “Submit” button to finalize your refund application.
Required Documents for Refund Application
When applying for a refund on the Sahara Refund Portal, you will need to provide certain documents to support your claim. The required documents include:
- Membership number
- Deposit account number
- Aadhaar linked mobile number (mandatory)
- Deposit certificates/passbook
- PAN card (mandatory if the claim amount is Rs. 50,000 and above)
Ensure that your Aadhaar card is linked to your mobile number and bank account for a smooth refund process.
Refund Amount and Process
In the initial phase, the refund portal will disburse up to Rs. 5,000 crore to depositors. However, each depositor will only receive Rs. 10,000 in the first phase. This trial basis refund is aimed at ensuring the smooth functioning of the process. If successful, the refund amount may be increased in the future.
Once your refund application is submitted on the Sahara Refund Portal, the authorities will verify the details and process the refund within 45 days. The refunded amount will be directly deposited into the bank account provided during the application process.