Bhubaneswar: The Odisha government on Wednesday said it has streamlined and decentralised the process for the refund of chit fund money as per the direction of Chief Minister Mohan Charan Majhi.
The initiative has brought relief to thousands of small-scale investors affected by fraudulent chit fund schemes.
In a major achievement, the state government has disbursed Rs 47.07 crore to 1,26,137 investors over the past year, marking a substantial improvement over the previous decade’s efforts.
It may be noted that between 2014 and 2024, only Rs 119 crore was refunded to 2,79,109 small investors, highlighting the slow pace of earlier initiatives.
However, the present government’s proactive measures have expedited the process, with district-level decentralisation ensuring greater efficiency and transparency.
The Chief Minister has further directed authorities to compensate an additional 5 lakh small investors within the next 3-4 months, underscoring the state’s commitment to addressing this long-standing issue.
This accelerated refund process is expected to restore financial stability for many affected families and bolster public trust in the state’s economic governance.
