Sahara Refund: Eligibility Criteria for filling a Claim in 2024

Sahara Refund: Eligibility Criteria for filling a Claim Do you meet the criteria to get a refund? Check out this piece of writing. Currently, not all investors have the eligibility to request a refund through the Central Registrar of Cooperative Societies (CRCS)-Sahara Refund Portal. Amit Shah, the Union Home Minister and Minister of Cooperation, announced that the initial disbursement of funds, up to a maximum of Rs 10,000, will be facilitated through this platform for one crore investors who have invested Rs 10,000 or above.

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Sahara Refund Eligibility Criteria for filling a Claim

Depositors must have made deposits and have outstanding dues receivable before the dates listed below:

1) March 22, 2022, for Humara India Credit Cooperative Society Limited, Sahara Credit Cooperative Society Limited and Saharayan Universal Multipurpose Society Limited.

2) March 29, 2023, for Stars Multipurpose Cooperative Society Limited.

The Sahara Refund Portal was recently launched by the Central Registrar of Cooperative Societies (CRCS) to facilitate the refund procedure for depositors of four cooperative societies under the Sahara Group. The objective is to offer assistance to millions of depositors, enabling them to recover their invested funds.

Nevertheless, only some investors in Sahara Group cooperative societies are qualified to request a refund using the portal. Union Minister Amit Shah announced that a sum of Rs 10,000 will be disbursed to one crore depositors who had made an investment of Rs 10,000 or above.

Individuals who have deposited money with any of the following Sahara Group Co-operative Societies are qualified to get refunds:

1) Humara India Credit Cooperative Society Limited, Kolkata.

2) Sahara Credit Cooperative Society Limited, Lucknow.

3) Saharayan Universal Multipurpose Society Limited, Bhopal.

4) Stars Multipurpose Cooperative Society Limited, Hyderabad.

Sahara Refund Eligibility criteria for filling a Claim

Depositors must have made deposits and have outstanding dues receivable before the dates listed below:

1) March 22, 2022, for Humara India Credit Cooperative Society Limited, Sahara Credit Cooperative Society Limited and Saharayan Universal Multipurpose Society Limited.

2) March 29, 2023, for Stars Multipurpose Cooperative Society Limited.

Depositors’ identification will be verified using their Aadhaar card. The Sahara Societies will verify the allegations and uploaded papers. Payments to genuine depositors would be credited to their bank accounts within 45 days after completing their online claims, subject to money availability, and they will be notified of the status by SMS or the Sahara refund site, according to the FAQs.

Sahara Refund Claiming Process

To request a refund, please refer to the following comprehensive, step-by-step instructions:

Step 1: Visit the Sahara Refund portal.

Step 2: Click on the ‘Depositor Registration’ tab. Enter the last 4-digits of your Aadhaar number and mobile number, and then enter the OTP received on your mobile to complete the registration.

Step 3: Log in to the Sahara Refund portal by clicking on the ‘Depositor Login’ tab and entering the last 4-digits of your Aadhaar number and mobile number, as well as the OTP received on your mobile number.

Step 4: Accept the UIDAI conditions and click ‘I Agree’.

Step 5: Enter the personal details and click ‘Next’.

Step 6: Enter your Aadhaar number and click ‘Get OTP’. Enter the OTP and click ‘Verify OTP’.

Step 7: On the next page, check the details fetched and auto-filled from Aadhaar and click on ‘Get Bank Name’. Once the bank details are fetched, click ‘Next’.

Step 8: Enter the necessary details on the next page and click ‘Add Claim’.

Step 9: The claim details will be displayed. Click on ‘Next’.

Step 10: On the next page, click on ‘Generate Claim Request Form’.

Step 11: The claim form will be displayed on the screen. Click on ‘Download Form’.

Step 12: Affix your latest photograph and signature on the claim form.

Step 13: Log in to the Sahara Refund portal and upload the filled claim form, enter the PAN number and upload documents on the portal.

You will be notified of the form’s successful upload with an acknowledgment number. Additionally, your registered cellphone number will get an SMS. Refunds typically take around 45 days to process. The money you invested will be sent immediately into your account.

Documents required for Sahara Refund

To claim a refund, depositors must provide the following documents:

1) Membership number.

2) Deposit Account number.

3) Aadhaar-linked mobile number (mandatory).

4) Deposit certificates/Passbook.

5) PAN (for claim amounts Rs 50,000 and above).