Get Your Money Back in 45 Days! Indian Government Launches Life-Saver Portal for Sahara Depositors

Saver Portal for Sahara Depositors- In a landmark move to address the long-pending issues of the Sahara Group depositors, Union Cooperation Minister Amit Shah inaugurated the ‘CRCS-Sahara Refund Portal’ on Tuesday. Aimed at returning the hard-earned money of over 10 crore Sahara depositors, the portal promises refunds in 45 days from registration.

This move follows a Supreme Court order directing the transfer of Rs 5,000 crore from the Sahara-Sebi refund account to the Central Registrar of Cooperative Societies (CRCS). Amit Shah has called this initiative a historic moment for the depositors whose money was frozen in four Sahara Group cooperative societies.

As per official records, around 2.5 crore depositors have investments up to Rs 30,000 in Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd. The website, developed by an IFCI Ltd subsidiary, enables these depositors to submit their legitimate claims and seek their rightful refunds.

For the uninitiated, the portal can be accessed at mocrefund.crcs.gov.in. Initially, depositors will be eligible for refunds up to Rs 10,000, while those with larger investments will see their refund amounts increase in due course.

Amit Shah reassures that the initial Rs 5,000 crore corpus will suffice to address the needs of 1.7 crore depositors. He, however, acknowledged that they might have to approach the Supreme Court again to release more funds once the current corpus gets exhausted, ensuring that all depositors, regardless of the investment amount, receive their refunds.

Claiming your refund is a simple process – register your Aadhaar with your mobile number, link it to your bank account where the refund will be deposited, provide receipt details, download the required form, fill it out, and re-upload it on the portal.

Start ticking your calendar, Sahara depositors! Your refunds are just 45 days away.