Dikhyaa Mohanty 
Mohan Charan Majhi, the chief minister of Odisha, admitted to being a victim of chit-fund scams twice, in 1990 and 2002. Speaking to an audience at the state-level event honoring National Consumer Rights Day, CM Majhi stated, “I was also duped twice by a chit fund fraud. In 1990 and 2002, I was defrauded by two financial institutions, one of which being the government. He added that after learning that the company was fraudulent, he lost all of his investment.
CM Majhi also added that he appealed to the then government-but failed to get back his money due to the complex and lengthy process. Lakhs of investors in Odisha had lost all their savings in connection with the Chit Fund scam. The Chief Minister in his speech asserted that Prime Minister Narendra Modi-led BJP government after discussions with all the stakeholders brought a new Consumer Protection Act, 2019, that closed all the loopholes in the previous Consumer Protection Act, 1986. He added that India is an ‘over legislated country but lesser implemented nation’.
He pointed out that because of the drawn-out and intricate legal process, customers frequently did not receive justice. He emphasized that rules should be applied both literally and figuratively to guarantee that consumers receive justice with minimal difficulty. In contrast to the previous act, the Chief Minister outlined a number of advantages of the Consumer Protection Act of 2019. The state government is making every effort to educate customers about their rights, he continued.
The state Consumer Welfare Department was advised by the Chief Minister to step up enforcement actions against traders who commit fraud.
