Introduction to Sahara Refund
Sahara Refund, on July 18, 2023, the Indian government unveiled the Central Registrar of Cooperative Societies CRCS, also known as the Sahara Refund Portal. Union Home Minister Amit Shah launched the webpage. Depositors who register on the site will receive a return within 45 days.
Steps taken by Home Minister Amit Shah on Friday
A few weeks after setting afloat The Central Registrar of Sahara Refund Portal Cooperative Societies CRCS Sahara Portal, on Friday, the union home minister Mr. Amit Shah commenced the procedure of refunding money of over 2 Crore investors of 4 Sahara group collaboratives.
It’s under investigation for laundering of funds. An initial reimbursement of 10,000 rupees was ceded to 112 investors to their respective accounts. On July 18, CRCS Sahara Refund Portal, was launched, in which the number of investors which have registered is 18 lakhs.
CRCS Sahara Refund Portal : Briefly Explained
The CRCS Sahara Refund Portal is a web-based site intended to administer reimbursements for investors who belong to four Sahara Refund Portal Cooperative Societies associations in compliance with the Supreme Court determination dated March 29, 2023.
Steps to Register on the CRCS Sahara Refund Portal
Ø Investor registration process:
Ø Investor Log in:
Ø Mandatory credentials
To sign up on the platform, you must have an Aadhaar-linked cell phone number and a financial account. In addition, you will need your deposit number and investing information.
If your claim deposit exceeds Rs 50,000, you must give PAN. You will require your claim Request Form, PAN Card (if the claim amount is Rs. 50,000/- or more), Aadhaar seeded bank account, membership number, and Aadhaar-linked mobile number.
Deposit credentials or Passbooks are also necessary. The connection to the website is https://mocrefund.crcs.gov.in.
On the reimbursement site, you may login and post all your claims at the same time, as well as upload the necessary papers to back up your claim and provide evidence of investment.
Documents Specifications To Upload
The paperwork you submit needs to be monochromatic or coloured, oriented vertically. The total size of the file must be limited to 200KB for the Investment Certificate/Passbook, 2MB for the completed pre-filled and executed Claim Application Form, and 50KB for the PAN Card.
The size of the record must be limited to 200KB for the Investment Certificate/Passbook, 2MB for the completed pre-filled and executed Claim Application Form, and 50KB for the PAN Card.
The Sahara Refund India Group of Cooperative Societies will investigate the application within 30 days of its acceptance. The outcome will be conveyed through SMS/portal within an additional 15 days, or within 45 days of making the internet-based request.
Customers who made deposits must submit all their claims for each of the four societies on the same claim application form. There is no price for making a request for reimbursement.
Inquiries regarding Funds CRCS Portal
If the investor is not able to download the application form for claim?
The investor must reload the page and attempt downloading the form once more.
Could an investor make a reimbursement demand if he or she lacks an Aadhaar-linked banking account?
No, a depositor cannot submit a claim unless their bank account has been seeded with Aadhaar. The Aadhaar seeding would enable safe financial transfers to the authentic depositor’s financial institution.
Will the Portal store the Depositor’s Aadhaar information?
No, the Portal does not keep the depositor’s Aadhaar information. It is encrypted according to UIDAI guidelines.
Can the depositor upload documents in any file format?
The depositor can submit documents in PDF, JPEG, PNG, or JPEG2.
Does the depositor have to give information about all deposits on a single form?
Yes, the Depositor must give information of all deposits in all Sahara societies where the Depositor has outstanding dues receivable by entering all claim details one by one onto a single claim form.
What should a depositor do if they have several deposit accounts?
If the depositor has numerous deposit accounts, he or she must complete a separate Claim Application Form for each one. Depositors must scan and upload the original certificate of deposit (CD) or passbook for each account.
Can a depositor add additional claims after submitting the Claim Form?
No. after the Claim Form has been submitted, the depositor cannot add any more claims. As a result, before submitting the form, be sure that all the information is correct and checked.
What should a depositor do after validating the reported data?
After you have verified the claimed data, download and print the Claim Form. Attach a current photograph and sign both the photo and the form. Finally scan, upload, and submit.
How will the depositor know whether the claim was submitted successfully?
After properly filing the request, the Portal will display a verification number and send an email message to the Depositor’s registered cellphone number for validation.
How long will it take Saharan Societies to check the claim?
The Sahara Refund India Societies will verify and process the claim within 30 days after its successful filing.
Who will process the depositor’s claim after it has been verified by the Sahara Refund India Societies?
Following verification by the Sahara Societies, the Authorised Verifier and CRCS will process your claim within the following 15 days.
How will the depositor know whether the claim request has been authorised yet?
The depositor will be notified by SMS/email in this respect.
How will the depositor receive the refunded or claimed amount?
The reimbursement of the claimed amount would be promptly transferred to the depositor’s Aadhaar seeded bank account only 45 days after the date of successful claim filing.
When may the depositor contact the Sahara Office with claim-related inquiries?
After 45 days (about 1 and a half months) of making the claim on the CRCS Sahara Refund Portal, the depositor can contact the appropriate Sahara Societies branch with any questions about the claim.
Will the Depositor be notified when the reimbursement is approved?
Yes, the depositor will be notified when the claim request is accepted.
Is it possible to request a CRCS Sahara refund by submitting a physical claim?
No, the entire procedure is conducted online.
What can be done to update information in the Portal after the acknowledgment digits have been generated yet?
After submitting the claim application in its full form, an acknowledgement number is generated. As a result, no updates or modifications may be made following the production of the acknowledgment number.
Which web browser should be used for this website?
This page performs best with the most recent versions of Google Chrome and Microsoft Edge.
Can a depositor depart even if he or she has partially completed the claim form application?
Yes, Depositors can depart the Portal by clicking the Logout option. Depositors can return later and login to finish their claim application.
Sahara Refund Last Date to Withdraw Funds
The deadline for withdrawing funds using the Sahara India refund last date link is available till September 30th. Following this, no one will be able to apply using this site.
Conclusion
258.47 crores were given to 2,77,607 Sahara Refund Portal Cooperative Society investors until 31.01.2024. Shri Amit Shah, Minister of Cooperation, stated this in a written reply to a question in the Lok Sabha chamber.
