Chit Fund Scam Victims in Odisha to Get Refunds by January 31: Manmohan Samal

Bhubaneswar: In a major relief for thousands of chit fund scam victims in Odisha, small depositors are set to receive refunds of their deposited money by January 31 next year. The announcement was made by State BJP president Manmohan Samal, who said a formal government notification has already been issued.

Addressing reporters, Samal said the refund process would prioritise small depositors who were recommended by the inquiry commission but are yet to receive any compensation. In the first phase, depositors who had invested amounts between ₹8,000 and ₹10,000 will be reimbursed.

He further informed that the government has identified around five lakh new depositors, all of whom are expected to be covered under the refund exercise by the end of January. Reiterating the BJP’s pre-election promise, Samal said the commitment made to chit fund victims is now being fulfilled.

Samal noted that several depositors have already received refunds earlier and assured that the remaining small investors would be compensated without further delay. He also clarified that the refund process would not be restricted to small depositors alone, adding that larger investors would receive their money back in a phased manner.

The announcement was welcomed by Jayant Das, president of the joint platform of victims affected by financial institutions. He said the current government has accelerated a process that remained stalled during the previous regime. However, Das stressed the need for comprehensive identification of all affected depositors and demanded that no eligible victim be left out of the compensation process.

The move is being seen as a significant step towards resolving one of Odisha’s long-standing financial distress issues, offering long-awaited relief to families affected by chit fund scams.