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5L chit fund investors to get refunds in 4 months: Samal

5L chit fund investors to get refunds in 4 months: Samal

Time of India4 hours ago
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Bhubaneswar: State govt will refund money to all eligible investors who were duped by chit fund companies, said state BJP president Manmohan Samal here on Friday.
He said the BJP, in its election manifesto, promised the people of Odisha to refund money lost in chit fund scams.
The govt has already refunded Rs 47 crore to 1.26 lakh chit fund depositors in a year.
"A list of 5 lakh investors is ready, and they will get refunds in the next four months," he added.
Samal said that due to dedicated efforts of the BJP govt, eligible beneficiaries affected by chit funds scam will get their money back. He expressed gratitude to chief minister Mohan Charan Majhi for the initiative.
He said that trusting the BJD govt, people had invested their hard-earned money in various chit fund companies.
"Unfortunately, the BJD govt betrayed their trust. A total of 174 chit fund companies swindled the people of Odisha. Many ministers, MPs, and MLAs from the BJD were allegedly involved in misappropriating public money under the guise of chit funds," he alleged.
Samal said several BJD members and ministers were jailed in connection with the chit fund scam. "Thousands of eligible depositors, who invested in chit funds, were left in uncertainty, leading to a loss of public trust in the govt.
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Following this, the Supreme Court intervened, leading to the formation of a corpus fund and a commission, but implementation was lacking, and the investigation report was not made public due to the questionable intentions of the BJD govt," he alleged.
He said the BJP govt took immediate action to refund those affected by the chit fund scam. "The BJP govt is sensitive to the plight of the affected depositors and is committed to ensuring that all eligible people get their money back," he added.
Samal said a system will be put in place to ensure that depositors can get their refunds by showing minimal proof.
BJD spokesperson Lenin Mohanty said Samal is suffering from selective amnesia. "Last month, he was telling that chit fund-related documents are missing. Now he is confidently telling the govt can refund money to all chit fund investors, which means the govt has all the documents. He is misleading the people," he added.
Mohanty said the BJP govt recently said Rs 119 crore was refunded to 2.79 lakh chit fund investors between 2014 and 2024. "It proves the BJD govt was refunding the money of chit fund depositors. For the sake of opposing the BJD, Samal should not speak whatever he wants," he added.
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