To provide relief to the investors of Sahara India, the government has made a major change in the refund process. Earlier, only investors with small amounts were able to apply on the portal, but now depositors up to ₹ 10 lakh can claim for the refund of their money.
The aim of this campaign, which is being run under the supervision of Home and Cooperation Minister Amit Shah, is to provide money to those people whose entire life’s earnings were stuck in these societies. The government has made it clear that after applying, your documents will be checked and if everything is found correct, the money will be sent directly to your Aadhaar linked bank account within 45 days.
Who will get the benefit?
This update is for those investors whose money is deposited in these four societies of Sahara, Sahara Credit Cooperative Society, Saharan Universal Multipurpose Society, Hamara India Credit Cooperative Society and Stars Multipurpose Cooperative Society. If you had applied earlier and any deficiency was found in your form, now you can correct it by visiting the portal and ‘Resubmit’. The limit of up to ₹ 10 lakh has now brought great relief to those big investors who were not eligible to apply on the portal till now.
Process to get refund?
The refund process is completely online. For this you will have to go to CRCS-Sahara Refund Portal. First of all you have to register yourself, for which Aadhaar number and mobile number linked to it are mandatory. While applying, you will have to provide information about your deposit receipt and membership number. It is very important to have PAN Card for claims more than ₹50,000. Once the application is submitted, Sahara Society will collate the documents within 30 days and in the next 15 days the government officials will seal it and release the money.
Investors are advised to fill their form very carefully. Often claims get rejected due to mistakes in ‘spelling of name’ or ‘receipt number’. If you have more than one Sahara bond or receipt, fill in the details of all of them in a single application as there is no option to apply multiple times. The government has also made it clear that refunds will be available only to those who have genuine proof of investment and whose data matches with the records of the societies.