Rs 300 Crore Corpus Fund for Chit Fund Victims

Odisha Chief Minister Naveen Patnaik has yet again come up with a populist measure to woo the masses. His government has announced setting up of a Rs 300 crore corpus fund to help the chit fund victims in the state. It is believed that if spent in a proper manner, the fund will come as a boon for thousands of investors, who have been duped by the chit fund companies.

Chit Fund ScamFormer Chief Justice of Sikkim High Court and former Chairman Odisha Human Rights Commission (OHRC) Justice R.K. Patra will head the pane that would probe into the chit fund scam. “We will ensure free and fare investigation into all chit fund cases,” said a press release from the CM’s office.

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The Odisha Government has also decided to move the High Court, seeking speedy trial in all chit fund cases. Special Prosecutors will be appointed to assist in such cases. Chit Fund companies such as Saradha, Seashore, Green Ray, Mid East, Astha and Artha Tatwa (AT) have duped crores of rupees from innocent people in Odisha.

Naveen’s master stroke is seen as a move to counter the offensive launched by the Congress Party in the state. Recently, OPCC President Jayadev Jena has announced the setting up of special Chit Fund assistance at all block and district headquarters from the second week of July.

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