Odisha govt’s Rs 300 cr corpus for chit fund depositors yet to receive CGA nod

Odisha Sun Times Bureau
Bhubaneswar, June 12:

The corpus fund of Rs 300 crore created by the Odisha government to protect the interest of genuine depositors of chit fund companies in the state is yet to get the approval of the Controller General of Accounts, Government of India.

This was revealed by the Finance department of the state government in response to a RTI application filed by RTI activist Pradip Pradhan on May 15 this year seeking information about details of corpus fund created by state government to protect the interest of small and genuine depositors who have lost their deposits in chit fund companies.

The Public Information Officer (PIO) of the Finance department of the state government in his reply said “A sum of Rs. 300 crores was provided under “Demand No. 5 – 2075- Miscellaneous General Services – 797-Transfer to/ from Reserve Fund / Deposit Account -2897- Fund for Protection of Interest of Depositors – 91097-Transfer to Reserve Fund for protection of interest of Depositors” in the Supplementary Statement of Expenditure, 2013-14”.

The PIO has stated that the Finance department requested the Principal Accountant General (A&E), Odisha, by a letter dated March 25, 2014 to” transfer the amount to transfer credit the amount to “8235-General and Other Reserve Funds- 200-Other Funds- 2897-Fund for protection of Interest of Depositors- 91079 Transfer from Revenue Account within the financial year 2013-14″ which is yet to be approved by Controller General of Accounts, Government of India.