Ministry of Corporate Affairs organises an Investor Education, Awareness and Protection Conference in Srinagar
The Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs organised an Investor Education, Awareness and Protection Conference in Srinagar, Jammu & Kashmir on 28 October 2022. The Conference was inaugurated by Chief Guest, Union Minister of State for Ministry of Corporate Affairs Rao Inderjit Singh.
During the conference the minister launched various initiatives of the IEPFA.
- The IEPFA Mascot “Fundoo” was released.
- “Niveshak Didi” or female dakiya, is a joint venture of IEPF Authority with India Post Payment Bank wherein Investor Education will be promoted in “By the women, for the women” concept.
- “Niveshak Sarathi”, an investor awareness van was flagged by the minister. It is an initiative by IEPFA to promote financial literacy among people in far-flung areas by spreading knowledge through dedicated audio-visual and print material & a specially designed Van.
- “Investors’ Handbook” - a concise compilation of information on savings, budgeting, and investments which provides a vast knowledge of financial instruments.
The Investor Education and Protection Fund Authority (IEPFA)
It was set up by the Government of India on 7 September 2016 under the Companies Act 2013, to administer the Investor Education and Protection Fund.
Investor Education and Protection Fund
The fund was set up under the Companies act in 1999 under the Union Ministry of Corporate Affairs. The main aim of the Fund is to promote investors’ awareness and protection of the interests of investors. Here investor means those who have invested in companies shares, debentures, fixed deposits etc.
Source of Fund
The following amounts that remained unpaid and unclaimed by the investor for a period of seven years from the date they became due for payment are credited to the Fund:
- Amounts in the unpaid dividend accounts of the companies
- The application moneys received by companies for allotment of any securities and due for refund
- Matured deposits with companies
- Matured debentures with companies
- Grants and donations given to the fund by the Central Government, State Governments, companies or any other institutions for the purposes of the Fund;
- And, the interest or other income received out of the investments made from the fund.
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