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Govt starts processing to refund money of chit fund depositors

Bhubaneswar: The Odisha government has started processing for refunding money to the small depositors, who had invested less than Rs 10,000 in various chit-fund companies across the State.

According to reports, as many as 2,306 small depositors of 12 blocks in Balasore district has been identified and will get back their money after submitting indemnity bonds to district Collector via concerned Tehsildar.

Earlier, Justice MM Das Commission probing the multi-crore ponzi scam has submitted interim reports to the government, in which it had mentioned that 1, 16,504 small investors were identified.

Questions arises that why the government is taking so long time to initiate the process when Rs 300 crore corpus fund was made in 2013.

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