Union Home Minister Amit Shah established the CRCS-Sahara Refund webpage on July 18, 2023, in New Delhi, following a Supreme Court judgement to return funds to cooperative societies' depositors. The transfer of Rs 5,000 crore from the Sahara-SEBI Refund Account to the Central Registrar of Cooperative Societies (CRCS) for distribution to bona fide depositors in the Sahara Group of Cooperative Societies was ordered by the Supreme Court on March 29, 2023.
Depositors in the four cooperative societies of the Sahara group can apply for a refund through the portal, which is accessible through the Cooperation Ministry website. Eligible depositors include Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited, and Stars Multipurpose Cooperative Society Limited. To submit a refund claim, depositors must first register on the CRCS Sahara Refund Portal, enter their mobile number associated with their Aadhaar card, and click "Get OTP." After entering the OTP and selecting "Verify OTP," it is time to register.
To submit a claim, depositors must first log in on the website's home page, enter their OTP and other information, and fill in deposit information from their deposit certificate. If multiple deposits are made, double-check the information before submitting it. After checking all the information, download and print the claim form, attach a current photograph of the depositor, and have them sign both the form and the photo. The final step is to upload the claim form after scanning it and uploading it to the website.
The bank account linked to Aadhaar will receive a straight credit for the return. The process is completed online, with Sahara Society examining and processing the claim within 30 days and CRCS processing it within 15 days.
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