Odisha government preparing new guidelines for refund of money to chit fund victims

The Odisha government is working on a new set of guidelines to streamline the refund process for chit fund depositors who lost their money in fraudulent schemes. This move aims to simplify and expedite the return of funds to affected investors.

In a response in Odisha Assembly, Odisha Chief Minister Mohan Charan Majhi on Monday informed that the new guidelines are being formulated to ensure a hassle-free and transparent refund process.

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Rs 45.69 Crore Already Refunded

So far, 96,474 depositors have received a total refund of Rs 45.69 crore, according to the Chief Minister. However, many investors are still waiting to recover their hard-earned money. The government has assured that swift action will be taken to compensate the remaining depositors who were duped by fraudulent chit fund companies.

Government's Commitment to Justice

The Odisha government is making proactive efforts to speed up the refund process and ensure that every affected depositor gets their rightful compensation. Officials are currently reviewing and updating the existing mechanisms to eliminate delays and inefficiencies.

The new refund policy will focus on:
Simplifying the claim process for victims
Enhancing transparency to avoid bureaucratic hurdles
Expediting payouts to ensure timely compensation

The initiative is expected to provide much-needed relief to thousands of small investors who fell prey to fraudulent chit fund schemes. The Odisha government has reiterated its commitment to justice, assuring that no affected depositor will be left out.