The launch of CRCS-Sahara refund portal by Union Minister Amit Shah has brought hope to depositors belonging to Sahara Group. The purpose of this portal is to facilitate the process of claiming your money back. With allocation of up to Rs 5000 crore in the initial phase, this initiative will provide much needed relief to depositors.
The primary objective of CRCS-Sahara Refund Portal is to help the depositors who have invested their money in Sahara Group Cooperative Societies. These societies include Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited and Stars Multipurpose Cooperative Society Limited. By addressing the genuine claims of these depositors, the portal aims to ensure that they recover their legitimate dues.
Refund Amount and Claim Process
- In the initial phase, a total of Rs 5000 crore will be paid through the refund portal. Each depositor is eligible to claim a maximum of Rs 10,000 during this phase. In order to make a successful claim, depositors must meet two conditions.
- First of all their Aadhaar should be linked with their mobile number and bank account. Second, they have to provide their deposit receipts and fill up a specified form. Once the form is filled and uploaded on the portal, further processing of refund will take place.
Timelines and assurances
- Depositors can expect their refund to be credited to their bank accounts within 45 days from the date of filing the claim on the portal. Amit Shah has expressed his commitment to ensure timely disbursement of funds.
Future possibility
- After the successful completion of the initial phase, follow-up action will be taken to resolve the issues of depositors holding large amount of money in cooperatives of Sahara group.