The Central Government has begun the process to restore depositors money totaling Rs 5,000 crore that was lost in four cooperative societies of the Sahara Group, which comes as a huge relief to millions of depositors. The ‘CRCS Sahara Refund Portal’, an online tool that would assist irate depositors get their money back, was launched on Tuesday, according to Union Minister Amit Shah. The portal will initially start at Rs 10,000 per depositor.
Who is qualified to get a refund through the CRCS Sahara Refund Portal?
The CRCS Sahara Refund Portal offers refunds to the sincere and rightful Depositors of the following four Sahara Societies:
Kolkata-based Humara India Credit Cooperative Society Limited
Stars Multipurpose Cooperative Society Limited, Hyderabad l Sahara Credit Cooperative Society Limited, Lucknow l Saharayan Universal Multipurpose Society Limited, Bhopal
What requirements must be met in order to submit a claim on the CRCS Sahara Refund Portal?
For the purpose of submitting a claim request, the Depositors must have made deposits and had unpaid balances as of the following dates:
For: a. Humara India Credit Cooperative Society Limited, Kolkata, on March 22, 2022.
b. Lucknow-based Sahara Credit Cooperative Society Limited.
c. The Bhopal-based Saharayan Universal Multipurpose Society Limited.
For: a. Stars Multipurpose Cooperative Society Limited, Hyderabad, on March 29, 2023
What information must a Depositor provide on the Claim Request form/Application?
The depositor must have: a. a membership number; b. a deposit account number; c. a mobile number connected to their Aadhaar (mandatory).
d. Deposit receipts/passbooks e. PAN card (if the claim is for at least Rs. 50,000) (Required).
If the total claim amount is Rs. 50,000 or above, is a PAN number required?
Yes, if the claim amount is Rs. 50,000 or above across all Sahara Societies, the Depositor is required to furnish mandatory PAN card data.
If a depositor does not have a bank account with Aadhaar seeded information, can they still submit a claim request?
No, a depositor cannot submit a claim without a bank account that has an Aadhaar seed. Secure financial transfers to the legitimate Depositor’s Bank account would be made possible by the Aadhaar seeding.
What is the best course of action for a depositor with several deposit accounts?
If a depositor has more than one deposit account, just one Claim Application Form has to be completed. The original certificate of deposit (CD) or passbook must be scanned and uploaded separately for each account, however.
How will the depositor get their refund or claim money?
After 45 days from the day when a valid claim was submitted, the return of the claimed amount will be automatically refunded to the depositor’s bank account that has an Aadhaar-seeded ID.
