Centre Launches Sahara Refund Portal: How To Apply

Union Cooperation Minister Amit Shah launched 'Sahara refund portal' on Tuesday for the submission of legitimate claims by genuine depositors of four cooperative societies of Sahara Group.

Terming this a historic moment, he said this is the first time when depositors are getting refunds in a case where multiple government agencies are involved and each one has done a seizure.

Who will benefit?

The government has said that money will be returned to 10 crore investors of the four cooperative societies (Sahara Credit Cooperative Society Ltd, Saharayan Universal Multipurpose Society Ltd, Humara India Credit Cooperative Society Ltd, and Stars Multipurpose Cooperative Society Ltd).

The announcement followed 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).

How to Apply at Sahara Refund Portal

• Visit the website cooperation.gov.in
• Enter the legitimate details of the depositor
• Submit the application form for the Sahara India Refund.
• The Sahara India Refund Amount will be credited to the bank account of the legitimate depositor.

Claim processing time

• Applicants will receive notification of their claim status either through a text message or on the portal within 15 days after the verification process.
• Applicants will get the refund within 45 days after registering on the portal.
• However, the applicants must submit all claims related to the four societies in a single claim application form.
• The government has clarified that there is no fee for submitting the online form.
• The refund claims can only be made through the online portal.
• Each depositor would get up to Rs 10,000 refund and subsequently the amount would be enhanced for those who have invested higher amounts.
• The corpus of Rs 5,000 crore would be able to take care of the needs of 1.7 crore depositors in the first phase.

Note

• To awail the benefits the applicant must ensure Aadhaar and mobile number is linked with the bank account where refund is to be deposited.
• To facilitate depositors, Common Services Centre (CSC) are being roped in to help and guide them for online registration.