Bhubaneswar: In a major relief for small chit fund depositors, the Odisha government has extended the deadline for eligible claimants to complete the process for refund of their money till January 31, 2026.
A notification issued by the Finance department said that the refund mechanism remains open for small investors whose claims have been recommended by the Chit Fund Investigation Commission but who are yet to receive repayment so far.
The government has urged eligible depositors to ensure they complete the necessary formalities within the stipulated timeframe for timely disbursal of their pending refunds.
As per the notification, the initiative covers investors who have deposited up to Rs 10,000 in most schemes and up to Rs 8,000 in the Golden Land Developers Group. Applicants must submit original receipts along with valid ID proof to claim refunds. The official OPID portal allows victims to track application status.
The refund drive builds on earlier disbursements under the Odisha Protection of Interests of Depositors (OPID) Act, 2011. The state created a Rs 300-crore corpus fund to support small investors. By September 2025, authorities refunded Rs 49.67 crore, including Rs 46 crore to 96,801 small depositors, with additional amounts raised from auctioning assets of fraudulent companies.
Notably, the chit fund scams peaked between 2013 and 2018. More than 174 companies, including Rose Valley, Artha Tatwa, Golden Land, and Hi-Tech Estates, defrauded 20–30 lakh investors. Low-income families suffered the most, losing savings to Ponzi schemes.
The extended deadline allows genuine victims to apply, especially those who missed earlier opportunities due to a lack of awareness or documentation. Officials urged depositors to act quickly to ensure timely processing.
Refunds remain decentralised at the district level for efficiency. Funds come from seized assets and the state corpus. Larger claims and investigations continue, but the government reinforced its focus on justice for small depositors hit hardest by the chit fund scam.
For more information or clarifications regarding eligibility and documentation, depositors can contact the government helpline at 0674-2395153.
The chit fund crisis has affected lakhs of small investors across Odisha, leading to the establishment of a dedicated investigation commission and a structured refund mechanism. The extension is part of the government’s continued efforts to resolve outstanding claims and provide relief to small depositors who lost their money to fraudulent schemes.
