Odisha government extends chit fund refund deadline till March 31

In a major relief to thousands of chit fund scam victims, the Odisha government has extended the deadline for the refund of deposits till March 31, allowing affected investors additional time to apply for the return of their money.

Earlier, the refund process was scheduled to conclude on January 31. However, the State government has now extended the deadline by two months to ensure wider coverage, particularly for small depositors.

Official sources said the ongoing refund exercise is currently benefiting around 8,000 to 10,000 small depositors across the State. Victims of chit fund fraud can apply for refunds by submitting the required documents and proof of investment to the concerned local Revenue Inspector (RI).

As per the guidelines, once an eligible depositor submits a complete application along with valid documents, the refund amount will be disbursed within 15 days. Officials said the extension is aimed at helping victims who may have missed the earlier deadline due to a lack of awareness or procedural difficulties.

The decision was taken after reviewing the progress of the refund process following the expiry of the previous deadline on January 31. Officials added that the extended timeline would help streamline the process and bring more eligible beneficiaries under its ambit.

Chit fund scams had affected thousands of small investors across Odisha, many of whom had invested their life savings. The government has urged all eligible depositors to submit their applications well before March 31 to avoid a last-minute rush and ensure the timely settlement of claims.