Bhubaneswar, June 1 (BNP): In a major relief for small chit fund investors across Odisha, the state government has eased refund norms by allowing eligible depositors to claim their money without producing original deposit receipts, following recommendations made by the Commission of Inquiry into chit fund fraud cases.
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The revised decision is expected to benefit thousands of small depositors who invested up to Rs 10,000 in chit fund schemes and are yet to recover their savings. Officials said the move aims to remove procedural difficulties faced by many investors who lost or no longer possess their original deposit documents.
Under the new guidelines, eligible depositors whose names have been recommended by the inquiry commission can claim refunds by furnishing valid identity proof instead of submitting original deposit receipts.
The refund process, initially scheduled to conclude by March 31, 2026, had encountered delays as several eligible beneficiaries remained unpaid. A large number of claimants reportedly struggled to complete the process due to missing documents and lack of clarity regarding eligibility status.
Authorities have made available a list of unreimbursed depositors on the official websites of respective district administrations. Investors can also verify the status of their refund applications through the Odisha government’s designated portal by entering their name and affidavit number.
To further streamline the process, the Finance Department has advised depositors to contact local Revenue Inspectors with the necessary details for assistance. The deadline for submission of applications has also been extended till August 31, offering more time to eligible claimants to complete formalities.
Meanwhile, representatives of depositors’ groups have welcomed the relaxation but called for greater transparency and wider awareness. Concerns have been raised that many economically weaker depositors, including pensioners, daily wage earners and roadside vendors, may face difficulties accessing online platforms to verify their eligibility.
They have urged authorities to publish lists of eligible beneficiaries at Tehsil offices and local administrative units to ensure easier access to information and smooth disbursal of refunds.
The latest measure is being viewed as a significant step towards addressing long-standing grievances of chit fund victims and improving access to compensation for financially affected families across the state.