A Portal Was Created To Assist 10 Billion Sahara Depositors With Refunds

A Portal Was Created To Assist 10 Billion Sahara Depositors With Refunds

Today’s introduction of the CRCS-Sahara Refund Portal will provide up to 10 crore individuals with long-awaited relief. The portal would streamline the process of returning deposits made by customers to four cooperative societies owned by the Sahara Group. With the introduction of the Sahara Refund Portal, the process of repaying depositors’ money that was trapped in four cooperative societies of the Sahara Group has begun, according to Union Minister Amit Shah.

Details on a Portal Was Created To Assist 10 Billion Sahara Depositors with Refunds

According to Amit Shah, investors will initially receive a trial-run return of 10,000 rupees. If the trial is successful, the amount of the return can be gradually raised.

In the first phase, up to 1.7 crore investors may register on the refund platform and submit claims for up to 10,000. 4 crore depositors, according to Mr. Shah, are qualified to receive up to 10,000.

After registering on the CRCS-Sahara Refund Portal, Mr. Shah assured Sahara depositors that their money is secure and that they will receive a refund within 45 days.

How does the portal function?

Your Aadhaar number will be connected to your cell phone number, bank account, and the CRCS-Sahara Refund Portal to function. Additionally, you’ll have to supply receipt information. You will then be able to download a form, complete it, and re-upload it to the portal after doing this. Then the refund process will start.

How soon can I expect to receive a refund?

Within 45 days, according to Mr. Shah, the money will be put into the claimant’s bank account. In the event of any confusion, the Home Minister suggested using the Common Services Centers (CSC) digital services.

How does the CRCS Sahara Refund Portal operate?

The CRCS-Sahara Refund Portal was created to safeguard the interests of cooperative members. The portal will assist in handling the legitimate claims of depositors who had money invested in one of the cooperative societies owned by the Sahara Group, specifically Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, or Stars Multipurpose Cooperative Society Ltd.

What decision did the Supreme Court make?

According to the Supreme Court’s order from March 29, 2023, the Central Registrar of Cooperative Societies (CRCS) should receive a transfer of 5,000 crore from the “Sahara-SEBI Refund Account” for use in paying the legitimate debts of the Sahara Group of Cooperative Societies’ genuine depositors. 

Leave a Reply