In a significant development, Shri Amit Shah, Union Home Minister and Minister of Cooperation, unveiled the Central Registrar of Cooperative Societies (CRCS)-Sahara Refund Portal in New Delhi on July 17, 2023. This portal is designed to facilitate the submission of claims by genuine depositors of Cooperative Societies affiliated with the Sahara Group. With the launch of this portal, the government takes a major step towards returning the hard-earned money of millions of people affected by the scam. Before registration of your claim, please read the FAQs and User Manual available on the portal for smooth lodging and processing of the claim. You can visit the following link to register your claim: https://mocrefund.crcs.gov.in/
CRCS Sahara Refund Portal for Justice to Genuine Depositors
The CRCS-Sahara Refund Portal is an initiative designed to assist depositors who’ve placed investments in Cooperative Societies such as Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited and Stars Multipurpose Cooperative Society Limited. This efficient online platform allows these legitimate investors to apply for their refunds.
In an attempt to deliver justice to these impacted investors, several parties have been working together. The Supreme Court was instrumental in directing the transfer of Rs 5000 crores from the “Sahara-SEBI Refund Account” to the Central Registrar of Cooperative Societies (CRCS) for payout. Justice R Subhash Reddy, a former Supreme Court judge, supervises the payout process with support from Shri Gaurav Agrawal, a respected Advocate appointed as Amicus Curiae. Moreover, senior Officers on Special Duty (OSDs) are delegated to help with the refund process for each of the four societies.
Efficient and Transparent Reimbursement Procedure
With a base fund of Rs 5,000 crore, the refund methodology is carried out in an unambiguous and efficient manner. Strict precautions are in place to avert any misrepresentation or unfair treatment to authentic shareholders. The online platform integrates necessary safeguards to confirm that only valid account holders receive reimbursements. Each compensation claim undergoes rigorous verification. Once the required documentation is uploaded and authenticated, the refund is directly deposited to the claimant’s Aadhaar-linked banking account within 45 days.
Digital and User-Oriented Portal
The CRCS-Sahara Reimbursement Portal distinguishes itself with a digitized, user-compatible interface. The complete chain of events, from initiating the claim to document authentication, transpires online. Depositors can conveniently access the portal via the Ministry of Cooperation’s website and finalize their claims. The process necessitates depositors to complete the digital application form and provide supporting documents.
Aadhaar Connectivity: A Key Factor
The refund process’s efficiency and accuracy hinge on two primary conditions that investors need to fulfill. An association of their Aadhaar card with a mobile number and a bank account is mandatory. These correlations help sustain the refund process’s integrity and provide protection against potential scams.
Common Service Centers: Supporting Claims
To aid those residing in rural and distant areas to lodge claims seamlessly on the CRCS-Sahara Refund Portal, the government has employed the capabilities of CSCs. The objective is to expedite refunds to legitimate Sahara Group Cooperative Societies depositors. CSCs, widely distributed across the nation, providing a varying range of e-services facilitated by internet access and essential equipment like computers, printers, and scanners will support these depositors in submitting their claims online. Legitimate depositors can also request guidance from the closest CSC in filing their claims on the CRCS-Sahara Refund Portal.
Prompt Reimbursements for Legitimate Depositors
Following validation of claims and relevant documents by the designated Societies, Auditors, and OSDs, the refund sum will be deposited straight into the legitimate depositors’ bank accounts. With a target timeframe of 45 days from submitting the claim, the government plans to discharge this process, funds permitting. Regular updates will be provided to depositors about their refund status via SMS alerts and through the portal.
A Triumph for Small Investors
The launch of the CRCS-Sahara Refund Portal is an extraordinary achievement in bringing relief to the affected investors. This landmark initiative, led by Prime Minister Shri Narendra Modi, ensures that the hard-earned money of crores of people, previously entangled in scams, will finally be returned in a transparent manner. The initiative instills renewed confidence in the cooperative societies and paves the way for the development of the cooperative movement.
FAQs on CRCS Sahara Refund Portal
1. What is the CRCS Sahara Refund Portal?
The CRCS Sahara Refund Portal is an online platform for processing refunds of depositors from four Sahara Group Co-operative Societies, as directed by the Hon’ble Supreme Court on 29th March 2023.
2. Is the CRCS Sahara Refund Portal secure?
Yes, the CRCS Refund Portal is secured with an SSL Certificate.
3. Who is eligible for a refund through the CRCS Sahara Refund Portal?
Genuine and legitimate depositors of the following four Sahara Societies are eligible for refunds through the CRCS Sahara Refund Portal:
i) Humara India Credit Cooperative Society Limited, Kolkata.
ii) Sahara Credit Cooperative Society Limited, Lucknow.
iii) Saharayan Universal Multipurpose Society Limited, Bhopal.
iv) Stars Multipurpose Cooperative Society Limited, Hyderabad.
4. What is the eligibility criteria for filing a claim on the CRCS Sahara Refund Portal?
Depositors must have made deposits and have outstanding dues receivable before specific dates:
i) 22nd March 2022 for three Sahara Societies.
ii) 29th March 2023 for Stars Multipurpose Cooperative Society Limited, Hyderabad.
5. Are there any charges for filing the Claim form?
No, it’s free of cost.
6. What are the steps to register on the CRCS Sahara Refund Portal?
i) Step 1: Depositor Registration by entering last 4 digits of Aadhaar Card and linked mobile number followed with OTP verification for registration.
ii) Step 2: Depositor to Login by entering last 4 digits of Aadhaar Card and linked mobile number followed with OTP verification to log in.
7. What details does a Depositor need to provide with the Claim Request form/Application?
Depositors need to provide membership number, deposit account number, Aadhaar-linked mobile number (mandatory), Aadhaar-linked bank account details (mandatory),
8. What documents have to be attached to submit the Claim?
The Depositor should attach deposit certificate/passbook, claim request form and PAN card (if applicable).
9. Depositor upload documents in any which format?
Documents can be uploaded in PDF, JPEG, PNG and JPEG2 formats.
10. Does Depositor need to provide details of all deposits in a single claim form?
Yes, Depositors need to provide details of all deposits across all Sahara Societies in a single claim form. Depositor should scan and upload the original deposit certificate/passbook for each account separately and submit with the claim form.
11. Will the documents submitted by the Depositor be verified?
Yes, the submitted documents, including the Deposit Certificate/Passbook, will be verified by the respective Sahara Societies as per CRCS guidelines.
12. Can Depositor add more claims after submitting the Claim Form?
No, additional claims cannot be added after submitting the Claim Form. Therefore make the total claim in one go.
13. What should Depositor do after verifying the claimed data?
Download, print, affix a recent photograph and sign the Claim Form. Then scan, upload and submit the Claim Form.
14. How will Depositor know if the claim submission was successful?
An acknowledgement number will be visible on the Portal and an SMS will be sent to the registered mobile number for confirmation.
15. How long will it take for the Sahara Societies to verify the claim?
The Sahara Societies will verify and process the claim within 30 days after successful submission.
16. Who will process Depositor’s claim after verification by the Sahara Societies?
After verification, the Authorized verifier and CRCS will process the claim in the next 15 days.
17. How will Depositor know if the claim request is approved or not?
Depositor will receive a notification via SMS/Email regarding the approval status.
18. How will Depositor receive the refund/claimed amount?
The refund will be directly credited to the Depositor’s Aadhaar seeded bank account within 45 days from the date of successful claim submission.
19. Whom should Depositor contact for assistance during the claim filing process?
For any queries during the filing process, contact the respective Sahara Societies using the Toll-Free numbers 1800-103-6891 and 1800-103-6893.
20. When can Depositor contact the Sahara Office regarding claim-related queries?
Depositor can contact the respective Sahara Societies branch for queries regarding the claim only after 45 days of submitting the claim on the CRCS Sahara Refund Portal.
21. Will Depositor receive any notification when the refund is approved?
Yes, Depositor will receive a communication when the claim request is approved.
22. Can the Depositor change Aadhaar seeded bank account details after submission?
No, the Depositor cannot change the Aadhaar seeded bank account details after submission.
23. Is there an option to apply for CRCS Sahara refund by submitting a physical claim application?
No, the process is entirely online.
24. What can be done to update information in the Portal once an acknowledgement number has already been generated?
No updations/changes can be made after the generation of the acknowledgement number.
25. Which web browser is to be used for this website?
The website works best with the latest version of Google Chrome browser and Microsoft Edge.
26. Can Depositor exit the application even though he/she has partially filled up the claim application form?
Yes, Depositor can exit the Portal and later log in to continue the claim application.
27. What should be the specifications of the documents being uploaded?
Documents should be on grayscale or color scale, vertically aligned, and adhere to specific size limits.
28. What to do if the Depositor is unable to download the Claim Request Form?
Refresh the page and try to download the Claim Request Form again.
The CRCS-Sahara Refund Portal is a testament to the government’s commitment to safeguard the interests of small investors and promote transparency in the financial ecosystem. With the launch of this portal, genuine depositors have a secure platform to submit their claims and anticipate the return of their hard-earned money. The collaborative efforts of various entities, including the Supreme Court, ensure that justice is served to the affected investors. As the refund process unfolds, the government remains dedicated to facilitating timely and fair refunds, instilling trust in the cooperative societies and fostering a thriving investment environment.