CRCS-Sahara Refund Portal

July 18, 2023

The launch of the CRCS-Sahara Refund Portal by Union Minister Amit Shah brings hope to the depositors associated with the Sahara Group. This portal aims to facilitate the process of claiming their money back. With an allocation of up to Rs 5000 crore in the initial phase, this initiative will provide much-needed relief to the depositors.

Assisting Sahara Group Depositors

The primary purpose of the CRCS-Sahara Refund Portal is to assist depositors who have invested their money in Sahara Group’s cooperative societies. These societies include Sahara Credit Cooperative Society Ltd., Saharayan Universal Multipurpose Society Ltd., Humara India Credit Cooperative Society Ltd., and Stars Multipurpose Cooperative Society Ltd. By addressing the genuine claims of these depositors, the portal aims to ensure that they can retrieve their legitimate dues.

Refund Amount and Claim Process

In the initial phase, a total of Rs 5000 crore will be disbursed through the refund portal. Each depositor is eligible to claim a maximum amount of Rs 10,000 during this phase. To make a successful claim, depositors must fulfill two conditions. Firstly, their Aadhaar should be linked to their mobile numbers and bank accounts. Secondly, they need to provide their deposit receipts and complete a designated form. Once the form is filled and uploaded on the portal, the further processing of the refund will take place.

Timelines and Assurance

Depositors can expect their refunds to be deposited into their bank accounts within 45 days from the date of filing the claim on the portal. Amit Shah has expressed his commitment to ensuring timely disbursement of funds. The launch of the CRCS-Sahara Refund Portal serves as a stepping stone for addressing the concerns of depositors who have placed their trust in Sahara Group’s cooperative societies.

Future Prospects

After the successful completion of the initial phase, subsequent actions will be taken to resolve the issues of depositors who have larger amounts of money held in Sahara Group’s cooperative societies. The entire refund process is conducted online, streamlining the proceedings and expediting the disbursement of funds.

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