Odisha govt steps up efforts to refund money to small chit fund depositors

Odisha government has intensified efforts to refund money to the small chit fund depositors. The Finance Department has urged all eligible small investors to take advantage of this opportunity, stating that the refund process will remain open until January 31, 2026.

According to an official notification issued by the Finance Department, all small depositors are requested to apply for the refund within the stipulated period. The benefit will be extended to the depositors who were recommended by the Inquiry Commission but have not yet received their refunds. This includes investors who had deposited up to Rs 10,000.

In addition, depositors who had invested up to Rs 8,000 in the Golden Land Developers Group of Companies and were not refunded in the first phase will also be eligible to receive their money.

Eligible depositors have been advised to contact their respective Revenue Inspectors (RI) with the required documents. Upon verification, the refunded amount will be disbursed within 15 days, the notification said. 

For more information, people can also contact the government-issued helpline number 0674-2395153.

Meanwhile, reacting to the refund of money to depositors, State BJP president Manmohan Samal said the government is fulfilling its election promises. He added that refunds would be made to large depositors as well in a phased manner.

On the other hand, the Cooperative Minister targeted the previous government, alleging that chit fund scams had taken place during the BJD regime. He asserted that the BJP government is determined to return the chit fund money to the depositors.

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"The number of small depositors is not very large. The Madan Mohan Das Commission had submitted lists in seven phases after verifying the documents of around seven lakh depositors out of a total of 33 lakh. Of these, approximately 4.9 lakh depositors were found to be eligible. Around three lakh depositors have already received their refund. I extend my sincere thanks to the government for announcing refunds for the remaining eligible depositors who have yet to receive their money. I urge the Chief Minister of the double-engine government to identify all small and large chit fund depositors through the Tehsil offices and take immediate steps to ensure the refund of their hard-earned money as per their election promise," said Jayant Das, Convenor of Chit Fund Depositors Milita Mancha.