The Sahara Money Refund Portal is a big step forward in online refunds. Created by the Central Registrar of Cooperative Societies (CRCS) under the Government of India’s Ministry of Cooperatives, it’s aimed at helping about 10 crore Sahara Group members. This portal is designed to make it easy for people who have been waiting a long time to get back their investments, providing refunds totaling around Rs. 5,000 crore. For more information and the Sahara refund application form, visit www.sebi.gov.in sahara india This is a promising move by Sahara India to give people their money back.
sahara refund online News On July 18, 2023, the respected Union Minister for Home & Cooperation, Shri Amit Shah, officially inaugurated the SaharaRefund Portal. The portal has a user-friendly interface, making it easy for those with limited internet knowledge to reclaim their investments. This launch provides hope and relief to the affected members by offering them a viable solution to access their funds.
About Sahara Refund Portal
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sahara refund online The Sahara Refund Portal is a website created by the Central Registrar of Cooperative Societies (CRCS). It helps individuals who put their money in Sahara Group’s Cooperative Societies to get their money back. Almost Rs. 5,000 crore will be returned to investors who couldn’t access their money for a long time. The portal was launched by respected Union Minister for Home & Cooperation, Shri Amit Shah, on July 18, 2023. It’s easy to use and meant to help people easily retrieve their invested money. This portal was made after the Supreme Court’s decision to ensure things are clear and to assure investors that they will receive all their money back without any issues.
The respected Union Minister for Home & Cooperation, Mr. Amit Shah, introduced the SaharaRefund Portal on July 18, 2023. This platform has been carefully crafted with an easy-to-use design, ensuring a smooth and trouble-free process for individuals seeking to get back their invested money. The idea behind creating the Sahara Money Refund Portal was influenced by the Supreme Court’s decision, which aimed to make sure that investors can recover their funds with complete transparency and assurance. You can access this portal at www.sebi.gov.in, and it brings a glimmer of hope to those patiently waiting for their investments to be returned. Its main goal is to boost confidence in cooperative societies.
Key Highlights Of the Sahara Refund Portal
| 🚀 Portal Name | SaharaRefund Portal |
| 📅 Debut Date | 18th July 2023 |
| 💰 Total Refund Amount | 5000 Crore |
| 👤 Initiative By | Hon’ble Union Minister for Home & Cooperation, Shri Amit Shah |
| 💵 Maximum Refund Amount | Up to ₹10,000 |
| 🌐 Official Website | https://mocrefund.crcs.gov.in www.sebi.gov.in sahara india |
What is the SaharaRefund Portal?
Investors can now easily use the new portal to submit their claims for sahara refund online and get back their invested money. The Ministry of Cooperation ensures that every claim is carefully checked and eligible investors get their refunds as they should. This move aims to smooth the refund process and reassure investors that their claims are handled properly. For Sahara refund online and the application form, visit www.sebi.gov.in. This initiative intends to simplify the refund process and ensure investors’ confidence in the system.
The SaharaRefund Portal’s introduction and the fund allocation by CRCS highlight the government’s strong dedication to safeguarding investors and enhancing accountability in the cooperative sector. Through this program, authorities are taking a stand against financial fraud and reiterating their confidence in the cooperative system. This initiative underscores the government’s proactive stance in protecting investors’ rights and ensuring a trustworthy investment environment. It’s a step towards transparency and security in investments sahara refund form.
How Much Can You Claim from Sahara Refund Portal?
The amount you can claim from the Sahara Refund Portal is determined by your investment details with Sahara Group’s Cooperative Societies. Eligible investors who have deposited ₹10,000 or more may receive a first payment of up to ₹10,000 www.sebi.gov.in Sahara India. The total allocated refund amount is ₹5,000 crore. Those with outstanding dues before March 22, 2022, from Humara India Credit Cooperative Society Limited, Sahara Credit Cooperative Society Limited, and Saharayan Universal Multipurpose Society Limited are eligible for a refund. Stars Multipurpose Cooperative Society Limited depositors with outstanding dues before March 29, 2023, are also eligible for a refund.
Sahara Refund Portal Total Money Amount
The creation of the Sahara Refund Portal is a direct outcome of a directive issued by the Supreme Court, which has played a pivotal role in ensuring justice for the affected investors. Sahara refund application form www.sebi.gov.in Sahara India. The Supreme Court has ordered the Sahara Credit Cooperative Society Limited (CRCS) to allocate a significant amount of Rs 5,000 crore specifically to refund these claims. This decisive action by the Supreme Court emphasizes its commitment to resolving the matter and providing relief to the investors impacted by the situation.
CRCS Sahara Refund Portal Registration
Registering on the Sahara Refund Portal is a simple and hassle-free process initiated by the Central Registrar of Cooperative Societies (CRCS). Investors of Sahara Group’s Cooperative Societies can easily register on the portal to claim their refunds. The registration requires essential details such as Membership Number, the last four digits of their Aadhaar Number, and the Aadhaar-linked Mobile Number Sahara refund application form. Verification is completed through OTP to ensure the security of the registration process.
To begin the registration process, interested investors can visit the official registration page at https://mocrefund.crcs.gov.in/Depositor/Register. This user-friendly platform has been designed to offer a seamless experience for millions of depositors seeking to reclaim their trapped investments. The straightforward registration process simplifies the refund process and enables eligible investors to access their funds easily.
Eligibility Criteria for Sahara Refund Portal
Depositors who have invested in Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, and Hamara India Credit Cooperative Society Limited before March 22, 2022, are eligible for a refund at www.sebi.gov.in Sahara India.
Similarly, depositors who have invested in Stars Multipurpose Cooperative Society Limited before March 29, 2023, are also eligible for a refund.
Important Documents For Sahara Refund Portal
- Membership Number
- Deposited Account Number
- Aadhaar linked with an active mobile number
- Certificate/Passbook details of the deposit
- PAN card (for claim amounts of Rs 50,000 and above)
Steps To How To Apply For Sahara Refund Portal
To initiate a refund application on the Sahara Refund Portal, follow these step-by-step instructions:
- On the Depositor Registration page, enter the last 4 digits of your Aadhaar Number, your 10-digit Aadhaar-linked Mobile Number, and the provided captcha.
- Click on “Submit” to proceed.
- On the Depositor Login page of the CRCS Portal, re-enter the last 4 digits of your Aadhaar Number and the 10-digit Aadhaar-linked Mobile Number.
- Click “Six-digit Get OTP” to receive a One-Time Password (OTP) on your registered mobile number.
- Enter the SIX Digit OTP received and click on “Verify OTP to Enter” to log in.
- Give consent and agree to the terms and conditions by clicking on “I Agree.”
- On the Personal Details screen, provide your 12-digit Aadhaar Number and click on “Get OTP” to verify your details.
- The Aadhaar user’s details, including first name, middle name, last name, date of birth (DOB), and Father/Husband name, will be displayed.
- Optionally, you can provide your Email ID.
- Provide the details of the Certificate of Deposit.
- Click on “Submit Claim” to proceed.
- Fill in your refund claim details accurately, as corrections may not be possible later.
- Attach a photograph as proof.
If Sahara Refund Portal OTP Not Received
If users are experiencing difficulties in receiving the OTP on the Sahara India Refund Portal while entering their Aadhaar number, it could be due to technical glitches on the recently launched website. In such cases, it is advised to remain patient and continue the process. Likely, the developers are actively working to resolve the issue. With time, users should be able to receive the OTP and complete their registration on the portal seamlessly. Patience and persistence will ensure a smoother experience as the technical issues are addressed and resolved.
When OTP is Not Received On the Registered Mobile Number
During the registration process on the Sahara Refund Portal, if an OTP (One-Time Password) is not received on the registered mobile number, there could be several reasons for this occurrence. Here are some common reasons to consider:
- Network Issues: Temporary network problems may hinder the delivery of the OTP to your mobile number.
- Incorrect Mobile Number: Double-check that you have entered the correct 10-digit Aadhaar-linked mobile number during registration.
- Mobile Network Restrictions: Certain mobile network providers might have filters or restrictions that block specific OTP messages.
- Delay in Delivery: Network congestion or technical issues may cause a delay in receiving the OTP in some instances.
- Full Inbox: If your mobile inbox is full, the OTP message may fail to be delivered. Make space in your inbox and try again.
- Spam/Blocked Messages: Verify if the OTP message is mistakenly sent to the spam folder or if your mobile provider has blocked such messages.
Sahara refund online: By considering these factors, users can troubleshoot and identify the reasons for not receiving the OTP. This allows them to resolve the issue and successfully proceed with their portal registration.
How is the Sahara Refund Portal Useful?
Introducing the Sahara Refund Portal offers depositors a dedicated platform to submit their claims efficiently and transparently. This proactive initiative by the authorities aims to address the genuine grievances of investors who had invested in Sahara Group’s cooperative ventures. It provides them an efficient and streamlined means to seek redressal for their financial transactions. The establishment of this portal reflects the commitment to ensuring a fair and accessible process for investors to reclaim their funds, fostering trust and confidence in the cooperative system.
www.sebi.gov.in sahara India sahara refund form The Supreme Court’s directive to transfer funds from the “Sahara-SEBI Refund Account” to CRCS highlights its dedication to ensuring depositors receive their rightful dues. By allocating funds to CRCS exclusively for disbursement purposes, the court reaffirms its commitment to prioritizing the interests of the affected depositors and holding those responsible for financial accountability. This move emphasizes the court’s unwavering stance in ensuring a fair and just resolution for the investors, aiming to restore their trust and confidence in the financial system.
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FAQ Questions Related Sahara Refund Portal
To proceed with your registration on the Sahara Refund Portal, follow these steps:
Go to the official website of the SaharaRefund Portal at https://mocrefund.crcs.gov.in/Depositor/Register.
On the Depositor Registration page, enter the last 4 digits of your Aadhaar Number, your 10-digit Aadhaar-linked Mobile Number, and the provided captcha.
Click on “Submit” to continue with the registration process.
Cooperation Minister Amit Shah inaugurated the ‘CRCS-SaharaRefund Portal’ on July 18. This portal has been introduced to expedite the refund process for investors whose funds are trapped in four cooperative societies of the Sahara Group.
In its order on March 29, 2023, the Supreme Court directed the transfer of Rs 5,000 crore from the ‘Sahara-Sebi Refund Account’ to the CRCS. This allocation is intended to disburse the legitimate dues of genuine depositors affiliated with the Sahara group of cooperative societies. The court’s directive ensures that rightful funds are distributed to deserving depositors, addressing their legitimate grievances and seeking financial resolution.
In civil law, you can file a case before the consumer forum to seek a refund of money, damages, and compensation. On the other hand, in criminal law, you can complain to section 420 IPC with the local police.