Sahara Refund Limit Changed: Govt Raises Cap for Small Depositors, Check Amount and Other Details

The government has raised the cap on refund amounts for small depositors of the Sahara Group Cooperative Societies to Rs 50,000, up from the previous limit of Rs 10,000, a senior cooperation ministry official said on Wednesday.

The government has so far released Rs 370 crore to more than 4.29 lakh depositors of Sahara Group of Cooperative Societies through the CRCS-Sahara refund portal.

“With an increase in the limit of the refund amount to Rs 50,000, about Rs 1,000 crore payment will be made in the next 10 days,” the official said.

Last week, the cap on refund amount for small depositors was raised to Rs 50,000 each from Rs 10,000, the official said.

The government is vetting the claims of depositors carefully before releasing the refund.

Following a Supreme Court order, the CRCS-Sahara refund portal was launched on July 18, 2023, for submission of claims by genuine depositors of Sahara Group’s four multi-state cooperative societies for refund of their legitimate deposits.

The societies are Sahara Credit Cooperative Society Ltd, Lucknow; Saharayn Universal Multipurpose Society Ltd, Bhopal; Humara India Credit Cooperative Society Ltd, Kolkata; and Stars Multipurpose Cooperative Society Ltd, Hyderabad.

The disbursement of money digitally is being monitored by Justice R Subhash Reddy, a Supreme Court judge.

Sahara Refund Portal Claim Process

What is the CRCS Sahara Refund Portal?

The CRCS Sahara Refund Portal is an online platform designed for processing refunds of depositors of four Sahara Group Co-operative Societies as per the Supreme Court directive dated March 29, 2023.

Who Is Eligible For Refund Through the CRCS Sahara Refund Portal?

The genuine and legitimate Depositors of the following four Sahara Societies are eligible for a refund through the CRCS Sahara Refund Portal:

a. Humara India Credit Cooperative Society Limited, Kolkata.

b. Sahara Credit Cooperative Society Limited, Lucknow.

c. Saharayn Universal Multipurpose Society Limited, Bhopal.

d. Stars Multipurpose Cooperative Society Limited, Hyderabad

How To Get a Refund From CRCS Sahara Refund Portal?

To claim the refund, you need to provide valid documents. The refund will only be provided to those who have registered through the portal. After registering yourself, you are required to provide documents like the Aadhaar card, the certificate of deposit or passbook number, your membership number, a mobile number that is linked to your Aadhaar, the account number (required for refund), and PAN card number. Your bank account must be linked to your Aadhaar card.

Procedure:

• Visit the home page of the CRCS- Sahara Refund portal and click on the registration.
• You are required to put the last four digits of your Aadhaar card and the registered mobile number.
• You will receive an OTP that you need to submit on the portal.
• After this, your registration process will be successful.
• You will receive an acknowledgement number on your mobile number.
• Submit the refund claim.