The Investor Education and Protection Fund Authority (IEPFA) has invited comments from various stakeholders to simplify, expedite and streamline the claims settlement process.
About Investor Education and Protection Fund Authority (IEPFA):
- The IEPFA was inaugurated in 2016, under the auspices of the Companies Act, 2013, specifically under section 125.
- This move was geared towards enhancing the safeguards surrounding investors and their investments.
- The authority operates under the nodal Ministry of Corporate Affairs.
Key Responsibilities:
- Education and Awareness: It is dedicated to promoting education and awareness among investors, a crucial step towards informed investment decisions.
- Protection of Investors: It plays a significant role in protecting investors by managing the Investor Education and Protection Fund (IEPF).
- Refunding Processes: It is responsible for refunding shares, unclaimed dividends, and matured deposits to investors, ensuring their financial security.
- Awareness Enhancement: It also works towards increasing general awareness among investors regarding their rights and the safekeeping of their investments.
Legal Framework
- The legal basis for the IEPFA is found in Section 205C of the Companies Act, 1956, as amended in 1999, focusing on the protection and interests of investors.
Ref:Source
| UPSC IAS Preparation Resources | |
| Current Affairs Analysis | Topperspedia |
| GS Shots | Simply Explained |
| Daily Flash Cards | Daily Quiz |