Sahara Money Refund Portal:- The Sahara Refund Portal, initiated by the Central Registrar of Cooperative Societies (CRCS) under the Ministry of Cooperatives, Government of India, marks a significant achievement in Sahara refund online. With the objective of providing relief to nearly 10 crore members of the Sahara Group, the portal has been designed to facilitate the refund of around Rs. 5,000 crore to those whose investments have been stuck for an extended duration. Sahara refund portal date Sahara refund application form www.sebi.gov.in Sahara India.
On July 18, 2023, the respected Union Minister for Home & Cooperation, Shri Amit Shah, officially inaugurated the Sahara Refund 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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The Central Registrar of Cooperative Societies (CRCS) has introduced the Sahara Refund Portal, a dedicated platform designed to facilitate refunds for investors of Sahara Group’s Cooperative Societies. The primary objective of this initiative is to return approximately Rs. 5,000 crores to those investors whose funds have been stuck for a significant period of time Sahara refund online.
The esteemed Hon’ble Union Minister for Home & Cooperation, Shri Amit Shah, inaugurated the Sahara Refund Portal on July 18, 2023, Sahara refund portal date Sahara refund online. Sahara Money Refund Portal The portal has been thoughtfully designed with a user-friendly interface, ensuring a seamless and hassle-free experience for individuals reclaiming their investments Sahara refund application form. Sahara Money Refund Portal This portal was established in response to the Supreme Court’s decision, aiming to ensure transparency and provide a 100% guarantee for investors to recover their funds Sahara refund portal date Sahara refund online www.sebi.gov.in Sahara India. It offers a ray of hope to those who have been awaiting the return of their investments and seeks to uphold their confidence in cooperative societies.
Key Highlights Of the Sahara Refund Portal
| 🚀 Portal Name | Sahara Refund 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 |
What is the Sahara Refund Portal?
With the introduction of this new portal, investors now have a straightforward and transparent platform to submit their claims and seek reimbursement for their invested funds. The Ministry of Cooperation actively oversees the entire process, ensuring that each claim is meticulously reviewed, and eligible investors receive the refunds they are rightfully entitled to Sahara refund portal date Sahara refund online Sahara refund application form www.sebi.gov.in Sahara India. This initiative aims to streamline the refund process and provide investors with the confidence that their claims are being handled with utmost care and diligence.
The launch of the Sahara Refund Portal and the allocation of funds by CRCS for the refund process demonstrate the government’s unwavering commitment to protecting investors’ interests and promoting accountability and transparency within the cooperative sector Sahara refund application form. By implementing this program, the Sahara refund portal date the authorities are sending a strong message against financial fraud and reinforcing their trust in the cooperative system Sahara refund online. This initiative showcases the government’s proactive approach to safeguarding the rights of investors and ensuring a fair and secure investment environment.
How Much Can You Claim from Sahara Refund Portal?
The refund 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. Additionally, 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 for the purpose of refunding 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 4 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.
By considering these factors, users can troubleshoot and identify the reasons for not receiving the OTP, allowing them to resolve the issue and proceed with their registration on the portal successfully.
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.
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 Sahara Refund 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-Sahara Refund 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.