New Delhi, July 31 The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, has launched a 100-day campaign titled ‘Saksham Niveshak,’ running from July 28-November 6.
This national drive is aimed at empowering shareholders by creating awareness about unclaimed dividends held by companies and guiding them through the process of updating their KYC and nomination details to reclaim their rightful dividend, according to Ministry of Corporate Affairs.
The campaign encourages companies to proactively reach out to their shareholders, helping them recover unclaimed dividends and resume the regular receipt of dividends by updating essential records. Timely action by shareholders will ensure that their dividends and underlying shares are not transferred to IEPFA.
Key objectives of the “Saksham Niveshak” Campaign include to facilitate the resolution of cases related to unclaimed dividends lying with companies, support KYC and nomination updates for shareholders and ensure direct dividend payouts from companies to the rightful investors.
The Investor Education and Protection Fund Authority (IEPFA), established under the Ministry of Corporate Affairs, is committed to promoting financial literacy, safeguarding investor interests, and protecting unclaimed dividends and shares.
Through initiatives like Niveshak Didi, Niveshak Panchayat, and Niveshak Shivir, IEPFA strives to build a financially informed and empowered investor base across the country.
Earlier this month, the Department of Posts (DoP) collaborated with the Association of Mutual Funds in India (AMFI) to streamline KYC (Know Your Customer) verification for approximately 24.13 crore mutual fund investors.
This includes 19.04 crore folios in Equity, Hybrid, and Solution-Oriented Schemes, as per AMFI data for June 30.
With an impressive year-over-year investor addition trend of approximately 4 million new investors in FY23, 6.9 million in FY24, and 9.7 million in FY25, this landmark agreement will benefit all Asset Management Companies (AMCs) under AMFI by ensuring seamless KYC compliance for their vast and growing investor base, enhancing operational efficiency and financial inclusion across India.
—IANS
(Auto generated news from IANS Feed. This has not been edited by enewstime desk)
