Odisha expands chit fund payout; 5 lakh more to get relief

Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Wednesday directed authorities to compensate an additional 5 lakh small depositors who were duped by different chit fund companies in the state.

The depositors will get back their money within three to four months, a release by the chief minister’s office (CMO) said.

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The CMO stated that the new government has disbursed Rs 47.07 crore to 1,26,137 small investors over the past year.

Between 2014 and 2024, the previous BJD government had refunded only Rs 119 crore to 2,79,109 small investors, officials claimed.

According to the statement, the state government has streamlined and decentralised the process for refund of chit fund money following the direction of Chief Minister Mohan Charan Majhi.

PTI