CRCS-Sahara Refund Portal Launched to Provide Financial Relief to 10 Crore Depositors; Amit Shah Assures Swift Refunds
The CRCS-Sahara Refund Portal has been launched, providing relief to 10 crore depositors. Union Minister Amit Shah assures a trial refund of ₹10,000 initially, with the possibility of increasing the amount based on the trial’s success. The portal streamlines the refund process for depositors of Sahara Group’s cooperative societies, offering a secure and efficient mechanism for claims.
The long-awaited CRCS-Sahara Refund Portal has been launched, signaling a significant breakthrough for 10 crore depositors. The portal aims to expedite the refund process for depositors who had invested in four cooperative societies of the Sahara Group.
During the launch of the refund portal, Union Minister Amit Shah assured depositors that their money is safe and emphasized that the process of returning their funds has commenced. As a trial basis, an initial refund of ₹10,000 will be granted to investors, and the refund amount may be increased gradually if the trial proves successful.
In the first phase, approximately 1.7 crore investors will be eligible to register on the refund portal and claim refunds of up to ₹10,000. Union Minister Amit Shah highlighted that there are approximately 4 crore depositors who are eligible to receive refunds up to ₹10,000.
To initiate the refund process, depositors will need to link their Aadhaar number, mobile phone number, and bank account details on the CRCS-Sahara Refund Portal. Additionally, they will be required to provide receipt details. After completing these steps, depositors can download the necessary form, fill it out, and re-upload it to the portal to initiate the refund process.
Depositors can expect to receive their refunds within 45 days of registering on the CRCS-Sahara Refund Portal. Amit Shah assured depositors that their claims would be addressed promptly, and their funds would be deposited directly into their bank accounts.
The CRCS-Sahara Refund Portal has been designed to safeguard the interests of cooperative society members. It aims to facilitate genuine claims and expedite the refund process for depositors who had invested in 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.
In line with a Supreme Court order dated March 29, 2023, which mandated the transfer of ₹5,000 crore from the ‘Sahara-SEBI Refund Account’ to the Central Registrar of Cooperative Societies (CRCS), the portal has been established to ensure the disbursement of legitimate dues to genuine depositors of Sahara Group’s cooperative societies.
The CRCS-Sahara Refund Portal provides a transparent and streamlined mechanism to expedite the refund process, bringing relief to millions of depositors who have been eagerly awaiting the return of their funds.
Sources By Agencies
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