The corpus fund of Rs300 crore created by the State Government to protect the interest of genuine depositors of chit fund companies is yet to get the approval of the Controller General of Accounts, Government of India.
This has been revealed by the State Finance Department in response to a RTI application filed by RTI activist Pradip Pradhan on May 15 this year.The Public Information Officer (PIO) of the Finance Department in his reply to Pradhan said, “A sum of Rs300 crore 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 credit it 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.IJ
But this is yet to be approved by the Controller General of Accounts, Government of India.