Odisha Government extended the deadline for chit fund scam refunds to small depositors until January 31, 2026.
The decision offers relief to thousands of victims who lost money in fraudulent schemes.
The initiative covers investors with deposits up to Rs 10,000 in most schemes and up to Rs 8,000 in the Golden Land Developers Group. Applicants must submit original receipts along with valid ID proof to claim refunds. The official OPID portal allows victims to track application status.
The refund drive builds on earlier disbursements under the Odisha Protection of Interests of Depositors (OPID) Act, 2011. The state created a Rs 300-crore corpus fund to support small investors. By September 2025, authorities refunded Rs 49.67 crore, including Rs 46 crore to 96,801 small depositors, with additional amounts raised from auctioning assets of fraudulent companies.
The chit fund scams peaked between 2013 and 2018. More than 174 companies, including Rose Valley, Artha Tatwa, Golden Land, and Hi-Tech Estates, defrauded 20–30 lakh investors. Low-income families suffered the most, losing savings to Ponzi schemes.
Odisha BJP president Manmohan Samal highlighted the government’s commitment to phased refunds. In July 2025, he announced plans to compensate 5 lakh more small depositors, following refunds to 1.26 lakh investors worth ₹47 crore in the previous year.
The extended deadline allows genuine victims to apply, especially those who missed earlier opportunities due to a lack of awareness or documentation. Officials urged depositors to act quickly to ensure timely processing.
Refunds remain decentralised at the district level for efficiency. Funds come from seized assets and the state corpus. Larger claims and investigations continue, but the government reinforced its focus on justice for small depositors hit hardest by the chit fund scam.
