The central government launched the CRCS-Sahara Refund Portal on Tuesday, aiming to assist over 10 crore depositors of Sahara Group cooperative societies in recovering their money.
Union Minister Amit Shah, during the launch of the refund portal, said, “The process of returning the money of depositors, which was stuck in four cooperative societies of Sahara Group, has started with the launch of Sahara Refund Portal.”
“The Sahara Refund Portal has been developed for the submission of legitimate claims by genuine depositors of the Sahara Group’s cooperative societies, namely Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd,” stated the Ministry of Cooperation in an earlier statement.
Who will benefit?
The plan entails returning money to 10 crore depositors of the four cooperative societies (Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd) within a span of nine months.
This directive followed a Supreme Court order on March 29, instructing the transfer of Rs 5,000 crore from the Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).
How to claim refund online?
The Sahara Refund Portal can be directly accessed online through the website of the Ministry of Cooperation (https://cooperation.gov.in). Although the link was not operational at the time of publishing this report, it is expected to become functional soon.
Genuine depositors belonging to the aforementioned cooperative societies of the Sahara Group can submit their claims by logging into this portal and completing the online application form.
Depositors must ensure that they upload all the required documents and possess an Aadhaar-linked mobile number and a bank account for claim processing.
The Sahara Group of Co-operative Societies will verify the claim application within 30 days of submission.
Claim processing time
Applicants will receive notification of their claim status either through a text message or on the portal within 15 days after the verification process.
The entire claim processing is expected to take around 45 days. It is important to note that applicants must submit all claims related to the four societies in a single claim application form.
There is no fee for submitting the online form, and refund claims can only be made through the online portal.
In the initial phase, a total of Rs 5,000 crore will be disbursed through the portal to genuine depositors. However, each depositor will receive only Rs 10,000 in the first phase.
If the first phase proves successful, the refund amount will be increased.
Amit Shah mentioned that approximately 4 crore depositors are eligible to receive up to Rs 10,000, and if the initiative succeeds, further measures will be taken to address the claims of depositors with higher amounts of money stuck in Sahara Group’s cooperative societies.
source by : India Today
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