Bhubaneswar: The Odisha government has taken significant steps to expedite the refund process for small investors affected by chit fund scams in the state. Following the directions of the Chief Minister, the process has been simplified and decentralised to the district level, making it faster and more accessible.
According to a statement issued by the Chief Minister’s Office, the state government has refunded Rs 47.07 crore to 1,26,137 small depositors across the state in the past year. This is a significant achievement compared to the previous government’s disbursement of Rs 119 crore to 2,79,109 investors over a span of 10 years.
The Chief Minister has directed officials to ensure that another 5 lakh depositors receive financial compensation within the next three to four months. The government has already confiscated immovable properties measuring 1,472.428 decimals belonging to 35 illegal chit fund firms in Odisha, and properties worth 56.549 decimals have been auctioned.
The state government has issued ad-interim orders for the attachment of movable and immovable assets of 66 sham companies in the state. The BJP government had promised to return the money stuck in chit fund scams within 18 months of coming to power, and it seems to be working towards fulfilling that promise.
The chit fund scam had affected lakhs of depositors across Odisha, who were lured into investing in ponzi schemes by false promises of high returns. The government’s efforts to refund the money and bring the perpetrators to justice are being closely watched by the people of Odisha.
