Bhubaneswar: The procedure for the refund of money to chit fund depositors has been simplified in Odisha to enable small investors to recover their deposits.
Following recommendations made by the Commission of Inquiry that looked into the chit fund fraud cases, small chit fund depositors who are yet to recover their investments will now be able to claim refunds without producing original deposit receipts.
Officials said the state government has decided to facilitate the refund of money to all eligible small depositors whose names have been recommended by the Commission.
Thousands of investors who had deposited up to Rs 10,000 and are yet to receive their dues are expected to benefit from the fresh move by the government.
With simplification of the procedure, small depositors will no longer be required to submit their original deposit receipts to claim refunds. Instead, they will be able to receive their money by furnishing a valid identity proof.
Earlier, the refund process had been scheduled to conclude by March 31, 2026. However, many eligible depositors are yet to receive their money, while a significant number no longer possess their original deposit document.
A list of depositors who have not received refunds is available on the official websites of the respective district administrations. Depositors can also check the status of their applications by entering their name and affidavit number on the website opid.odisha.gov.in.
The depositors have been advised by the Finance Department to contact the Revenue Inspector of their respective area with the required information. To facilitate the process, the application deadline has now been extended until August 31.
Experts said the government should display the list of affected depositors recommended by the Commission on notice boards of the respective Tehsils. These lists should also be shared local Sarpanches to enable the affected depositors to verify their eligibility.
