Odisha Govt Amends ToR For Compensation To Small Chit Fund Investors

Bhubaneswar: The Odisha government, in a sudden move, on Wednesday amended the terms of reference (ToR) for the chit fund commission of inquiry to identify small investors and suggest the modality of payment of compensation.

The Home Department, in a notice, has asked the Justice MM Das Commission of Inquiry to identify the bona fide small investors affected by the unauthorised financial transactions of fraudulent financial establishment/companies and suggest the modality of payment of compensation, the names of small investors eligible for compensation and the amount of compensation payable from the corpus fund set up by the government.

Reacting to the decision of the government, president of the Khyatigrasta Jamakari Milita Manch, Jayant Das, said that the original ToR of the government was to identify all the beneficiaries. But the recent amendment to the ToR is a matter of serious concerns among the depositors. “The state government has cheated the chit fund depositors. We will not remain silent and intensify our agitation across the state in the coming days,” Das told the media here.

The opposition has strongly condemned the decision of the state government.

While the BJP state secretary Lekhasri Samantsinghar maintained that the state government was never in a mood to return the chit fund amount to people, Congress leader Suresh Routray said the state government instead of cheating the hapless investors, should have told them that the money cannot be recovered. “The chit fund money has gone into the pockets of the ruling MLAs and ministers. “Congress will strongly raise its voice in support of the chit fund investors,” he added.