Chit fund scam: Orissa govt forms panel to fix compensation

  |   03 November, 2014   |   913   |   3980

More than a year after it passed an Act to protect the interests of small depositors who were duped of their savings by chit fund firms, Orissa government has announced a 5-member committee headed by additional chief secretary of finance to determine the quantum of compensation to be doled out to the victims.



With the CBI probe into the chit fund scam landing at its doorstep after the arrest of BJD MLA Pravat Tripathy two days ago, the government was eager to return money to the angry depositors, sources said.



Apart from the finance secretary, additional chief secretary of revenue and disaster management department and the home secretary would be part of the committee.