The Sahara Refund Portal was launched on July 18, 2023, by the Sahara Group and the Central Refunding Corporation of India (CRCI). The portal allows depositors who invested in Sahara Group schemes to claim their refunds. Depositors can log in to the portal using their PAN and Aadhaar numbers. They will then be able to enter their details and submit their claim.
The CRCI will process the claims and issue refunds within 30 days of receiving them. Refunds will be made through the same mode as the original investment. The Sahara Refund Portal is a welcome development for investors who have been waiting for their refunds for many years. The portal is easy to use and the claim process is simple.
The central government has launched a new portal to help over 100 million depositors of Sahara Group cooperative societies get their money back. The portal, called the CRCS-Sahara Refund Portal, was launched on Tuesday. Union Minister Amit Shah said that the launch of the Sahara Refund Portal is a major step towards returning the money of depositors who had invested in four cooperative societies of the Sahara Group.
He said that the process of returning the money has started and depositors will start receiving their refunds soon. The Supreme Court ordered on March 29 that 5 billion rupees be transferred from the Sahara-SEBI refund account to the Central Registrar of Cooperative Societies (CRCS). This directive led to the development of the Sahara Refund Portal, which allows legitimate depositors of the Sahara Group's cooperative societies to submit their claims.
The Sahara Refund Portal can be acquired online through the Ministry of Cooperation's website (https://cooperation.gov.in). However, the link was not working. It is expected to become working soon. Applicants will know the status of their claim either via SMS or through the portal within 15 days after the verification process. You can't submit your claims in person or by mail.
If the first round of refunds is successful, the amount of money that each depositor receives will be increased in the second phase. There are 40 million depositors who are eligible to get 10,000 rupees in the first phase. The government will look into ways to help depositors who have more money stuck in Sahara Group's cooperative societies.