Odisha Chief Minister Reveals He Was Duped by Chit Fund Scams Twice

Bhubaneswar, Dec 24 (NationPress) Odisha Chief Minister Mohan Charan Majhi disclosed on Tuesday that he had been a victim of chit-fund scams on two occasions, specifically in 1990 and 2002.

During an address at a state-level event commemorating National Consumer Rights Day, CM Majhi stated, "I too became a victim of chit fund scams twice. I was deceived by two financial institutions, including one that was government-affiliated, in 1990 and 2002."

He lamented the loss of his entire investment after discovering that the company was fraudulent.

The Chief Minister indicated that he sought assistance from the then-government but was unable to retrieve his funds due to the intricate and prolonged recovery process.

Many investors in Odisha have lost their entire savings due to the Chit Fund scam.

In his remarks, CM Majhi emphasized that the Prime Minister Narendra Modi-led BJP government, after consultations with various stakeholders, introduced the Consumer Protection Act, 2019, which addressed all gaps present in the earlier 1986 version.

He remarked that India is an 'over-legislated country but a lesser-implemented nation.'

He pointed out that consumers often struggle to achieve justice owing to the tedious and convoluted legal procedures.

He stressed the necessity of enforcing laws in their true essence to guarantee that consumers receive justice without undue difficulty.

The Chief Minister outlined the numerous advantages of the Consumer Protection Act, 2019 compared to its predecessor.

CM Majhi also highlighted the increasing incidents of cybercrime within the state.

He mentioned that the state government is actively working to raise awareness among consumers about their rights.

The Chief Minister urged the state Consumer Welfare Department to amplify enforcement activities against traders involved in fraudulent practices.

In a discussion with reporters, the state's Food Supplies and Consumer Welfare Department Minister Krushna Chandra Patra accused several departments of malfunctioning during the past 24 years under the previous Biju Janata Dal administration.

The department is currently facing a significant shortage of staff. Minister Patra asserted that traders engaged in illegal activities have no fear of repercussions from the department.

He promised that adequate staff would be assigned and consumer forums at various levels would be revitalized shortly.

Patra also announced that showcause notices have been dispatched to 371 petrol pumps found guilty of cheating.

The National Consumer Rights Day is observed annually on December 24 to mark the enactment of the Consumer Protection Act, 1986.

This year, Consumer Day is being celebrated under the theme, "Virtual Hearings & Digital Access to Consumer Justice."

This theme underscores the new provisions introduced in the Consumer Protection Act, 2019, aimed at delivering swift, cost-effective, and uncomplicated justice to consumers via online means.

The revised act emphasizes the significance of digital platforms and tools in ensuring that consumers can attain justice in an increasingly digital world.