What is the Sahara Group Refund?
If you’ve invested money in Sahara’s cooperative societies and are looking to get a refund, this process is for you. It involves applying on a government portal and potentially reapplying if the first attempt doesn’t succeed.
Initial Steps to Refund:
- Apply for a Refund: Investors who have not received their refunds after 45 days of the initial application need to apply again on the government portal. The method remains the same as the first attempt.
- Check Your Documents: If there is an issue with your documentation, you’ll be notified via email. Correct any mistakes and apply again.
Refund Limit:
You can apply for a refund of up to Rs 19,999. The portal will update if this amount increases.
Reapplication Process:
If 45 days pass without receiving your funds, you can reapply. Correct any reasons given for non-payment before resubmitting your application.
Where to Apply:
Visit the portal at https://mocrefund.crcs.gov.in/. You’ll need your 12-digit membership number, the last 4 digits of your Aadhaar number, and a mobile number linked to your Aadhaar for OTP verification.
Information Required:
Fill in the claim details, paste your photograph, and sign the claim form. Also, upload a photo of your PAN card. Note that the PAN card is mandatory for claims above Rs 50,000.
What Happens Next:
After verification, the refund process begins. The entire process is designed to complete within 45 days:
- First 30 Days: Document verification by Sahara Group committees.
- Next 15 Days: Money is transferred to your account. You’ll be notified via SMS.
Eligible Sahara Societies:
Investors from the following societies can seek refunds:
- Sahara Credit Cooperative Society Limited
- Saharan Universal Multipurpose Society Limited
- Hamara India Credit Cooperative Society Limited
- Stars Multipurpose Cooperative Society Limited
| Step | Description | Time Frame |
|---|---|---|
| 1. Apply or Reapply for Refund | Apply on the portal with necessary documents. If not received in 45 days, reapply. | Initial Application + 45 Days |
| 2. Document Verification | Committees verify documents. | First 30 Days after Application |
| 3. Refund Process | After verification, money is transferred. | 15 Days after Verification |
The Sahara refund process is a structured approach to ensure investors receive their dues from Sahara’s cooperative societies. It’s crucial to apply correctly and provide accurate documentation. If you don’t receive your funds within 45 days, reapply and correct any issues highlighted. Remember, having the right documents and following the process as outlined on the official portal is key to a successful refund. Keep track of your application, and ensure your contact information is up to date to receive all necessary communications.