Current Events Current Affairs Analysis
IEPFA and SEBI jointly convened a strategic meeting, to launch the “Niveshak Shivir” initiative to help investors reclaim unclaimed dividends and shares.
What it is:A nationwide investor assistance and outreach program to help investors reclaim unclaimed dividends and shares with ease.
Launched by:Investor Education and Protection Fund Authority (IEPFA) under theMinistry of Corporate Affairs, in collaboration withSEBI.
Key Features:
oInvestor Helpdesks:On-ground support for investors to directly interact with company representatives and RTAs.
oDigital Search Tool:IEPFA provides a portal to track share status and file claims (Form IEPF-5).
oStreamlined Claim Process:Guidance for shareholders in demat and physical form to recover unclaimed assets.
Significance:
oReduces dependency on intermediaries.
oEnhances transparency in the investor recovery process.
oBoostsfinancial literacyand trust in the financial ecosystem.
oSupports faster resolution of investor grievances.
Investor Education and Protection Fund Authority(IEPFA):
What it is:A statutory authority established under Section 125 of the Companies Act, 2013.
Ministry:Functions under theMinistry of Corporate Affairs, Government of India.
Functions:
oProtects interests of investors.
oPromotes financial literacy and education.
oFacilitates refund of unclaimed dividends, matured deposits, and shares.
oManages the IEPF corpus comprising unclaimed amounts transferred by companies.