Chit Fund Investors To Get Back Money Very Soon!

Bhubaneswar: The Odisha government has decided to begin the process for refund of money invested by the people in chit fund companies in Odisha in a couple of days.

As per the decision, the state government would credit the refund money to the account of small investors (who have invested a maximum Rs 10,000 or less) in the first phase.

As per the directive of the state government, the local tehsildars have started verification of the bank account and the indemnity bond of the small investors. After completion of the verification process, the state government would credit the refund money to their account within 2-3 days.

It is worth mentioning here that of 88,228 small investors, the Commission headed by Justice MM Das had identified 26,976 in the first phase and 61,251 in the second phase after verifying their affidavits.

The state government is examining the third and fourth phase interim report of the Commission for refund of money to the remaining investors.

Notably, principal secretary, Finance, Tuhin Kant Pandey had directed all district collectors to take necessary measures to refund the money of the small investors within a month.