Sahara Refund Portal: Centre launches platform for depositors' money recovery; check process, eligibility

The CRCS-Sahara Refund Portal was recently launched by the central government to provide assistance to more than 10 crore depositors of Sahara Group cooperative societies in recovering their money. Union Minister Amit Shah highlighted the commencement of the refund process through the Sahara Refund Portal. The portal is designed for genuine depositors of Sahara Group's cooperative societies to submit their legitimate claims. These cooperative societies include Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd. The initiative follows a Supreme Court order that directed the transfer of Rs 5,000 crore from the Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS).

To claim a refund online, individuals can access the Sahara Refund Portal through the Ministry of Cooperation's website (https://cooperation.gov.in). Although the link may not be operational at present, it is expected to be functional soon. Genuine depositors belonging to the aforementioned cooperative societies must log in to the portal, complete the online application form, and ensure they upload all the required documents. They should also possess an Aadhaar-linked mobile number and a bank account for claim processing.

The claim application will be verified by the Sahara Group of Co-operative Societies within 30 days of submission. Applicants will receive notification of their claim status within 15 days after the verification process, either through a text message or on the portal. The entire claim processing is estimated to take around 45 days. It is important to note that all claims related to the four societies should be submitted in a single claim application form.

Submitting the online form does not require any fee, and refund claims can only be made through the online portal. In the initial phase, a total of Rs 5,000 crore will be disbursed through the portal to genuine depositors. However, each depositor will receive only Rs 10,000 in the first phase.

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