Odisha to Refund Chit Fund Victims Within Four Months: CM

Bhubaneswar: In a major relief to victims of the chit fund scam in Odisha, Chief Minister Mohan Charan Majhi has announced that around five lakh small investors will receive their pending refunds within the next three to four months.

The Chief Minister’s Office (CMO) issued a statement on Wednesday confirming that authorities have been directed to accelerate the refund process and take necessary steps to ensure justice for those affected by the multi-crore scam.

“The government is committed to ensuring that five lakh small depositors get their money back at the earliest,” the statement read.

Under the leadership of CM Majhi, the state government has introduced several measures to expedite the restitution process. Over the past year alone, funds totaling Rs 47 crore have been returned to 1.26 lakh small investors, according to official data.

Between 2014 and 2024, a total of Rs 119 crore has been restituted to 2.79 lakh investors across Odisha.

The government’s renewed push for faster compensation comes as a significant move to rebuild trust and provide justice to thousands of small savers who were duped by fraudulent financial entities in the state.