How does the Sahara refund portal work?

The investors of Sahara Cooperatives now have a platform from where they can recover the amount which was defaulted by the company.

What

The government of India launched the Central Registrar of Cooperative Societies (CRCS), a Sahara Refund Portal, on July 18, 2023.

• The portal was launched by Union Home Minister Amit Shah. Once registered on the platform, the depositors will be able to get their refund within 45 days.
• However, only genuine depositors of Sahara co-operative societies can get refund of maximum Rs 10,000 in the first attempt.

The four Sahara Societies

• Sahara Credit Cooperative Society Limited
• Saharyan Universal Multipurpose Society Limited
• Hamara India Credit Cooperative Society Limited
• Stars Multipurpose Cooperative Society Limited

Who can get a refund

According to the government, the depositors must have made deposits and outstanding dues receivable before the following dates, for filing a claim request.

March 22, 2022 for:

• Humara India Credit Cooperative Society Limited, Kolkata,
• Sahara Credit Cooperative Society Limited, Lucknow
• Saharayan Multipurpose Society Limited, Bhopal.

March 29, 2022 for Stars Multipurpose Cooperative Society Limited, Hyderabad.

To successfully submit the claim form, the depositors are required to register on the CRCS Sahara Refund Portal.

What are the documents you need for the claim

The depositor should have the following documents to get the claim amount:

• Deposit Certificate/Passbook
• Claim Request Form
• PAN Card (if claim amount is Rs 50,000/- and above)

Aadhar-seeded Bank Account, membership number, and Aadhar-linked mobile number is mandatory.

How to register on the CRCS portal

Here is a step-by-step process on how to register on the portal:

• Go to the CRCS Refund Portal website
• Click on Depositor Registration
• You will need to enter the 12-digit membership number, last 4 digits of your Aadhar number, 10-digit Aadhar-linked mobile number, captcha.
• Enter the OTP received on your Aadhar-linked mobile number and complete the registration process.

What now

According to the Ministry, the application will be verified by the Sahara Group of Cooperative Societies within 30 days of submission. A decision will be communicated via SMS within the next 15 days.

It is also important to note that the claim application can be made only online.