Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Chit fund victims fume over refund delay

Post News Network
Updated: March 1st, 2019, 10:11 IST
in State
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Keonjhar: Discontent is brewing among the people who have been duped by chit fund firms in this district. Facing absolute misery, they have little hope of getting their money back.

The government had set up a corpus fund, but not a single chit fund victim had got back his/her money.

Also Read

crocodile attack

Crocodile fears grip flood-hit coastal Odisha

14 hours ago
Pregnancy weight loss

Kendujhar: Death of 3,199 children in 5 yrs raises alarm

17 hours ago

Although the exact number of people duped by chit fund firms is not known, their number could be around a lakh.

Thousands of people were tricked into investing their money in around 40 chit fund companies like Seashore, Micro Leasing, Rose Valley, Basil International and Innovative.

Pramila Patra, a resident of Badbal in Sadar block said, “I had invested Rs 22,000 in Rose Valley, and I have the deposit certificate. I came to know that only Rs 200 has come to the tehsil office for me.”

This is the case with many other victims. Only negligible amounts have been sent to tehsil offices to pay to the victims.

The chit fund victims alleged that their documents were sent to Collectors. The Collectors sent the documents to tehsil offices and revenue inspectors are supposed to check the records, verify the claim and pay compensation. But this is not being done in Keonjhar, they said.

Prasanna Mohant, another victim said, “I had deposited Rs 5.30 lakh with Micro Leasing and Funding. I have no hope of getting it back, although the company’s CMD has promised to pay. Our money is stuck in chit fund companies, but the government is not doing anything. In 2014, I had problems in raising money for the cancer treatment of my wife.”

Daktar Mohant, president of the Keonjhar Zilla Arthika Kshyatigrasta Manch, said the government has not published a single white paper on the chit fund scam.

“All documents were given to the Collector. Those who deposited Rs 22,000 will get Rs 200. RIs are delaying repayment in the name of document verification. The election code of conduct will be in place in a few days, and the money will not be disbursed. We will stage a Satyagraha,” he warned.

Prasanna Kumar Mohant, another chit fund victim, made it clear, “The Chief Minister and other leaders attended programmes of the chit fund company. This made us trust the company and we invested hoping to get back the money at the time of my daughter’s marriage or to do some business in future. Six years have passed. The government says it will pay back the money, but nothing is available. I think the government has been giving the assurance for political dividends.”

Collector Ashish Thakare said steps were being taken to pay back the money to all depositors.

“We are collecting the details of bank accounts, bonds and receipts given by Rose Valley to depositors. Money will be paid into their accounts in four to five days. About 15,000 depositors will get back their money,” he said.

 

PNN

 

Tags: Chit fundKeonjhar
Share2TweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

Mettle Meet 2026
OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Sibarama Khotei

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Narendra Kumar

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Pratyasharani Ghibela

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019

Archives

Editorial

ISI After NEET

August 5, 2026

The Centre is courting yet another controversy by introducing a Bill in the Lok Sabha that seeks to fundamentally alter...

Read moreDetails

A Quiet Shift

Prashant Kishor
August 4, 2026

Change rarely arrives announced. But when a popular movement stirs, transformation can sweep in like a tide. The recent by-election...

Read moreDetails

Desperate Measures

Indian currency
August 3, 2026

The Reserve Bank of India (RBI) selling about $7 billion in a single trading session to arrest the rupee’s slide...

Read moreDetails

Selling Global Dreams

Aakar Patel
August 2, 2026

By Aakar Patel Mother of Democracy is standing for a non-permanent elected seat at the United Nations Security Council. Non-permanent...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2025 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2025 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2025 All rights Reserved by OrissaPOST