The Investor Education and Protection Fund Authority (IEPFA) and the National Council of Applied Economic Research (NCAER) jointly organized a dedicated workshop for youth, engaging college students on “Investor Education and Protection Policy in India: Claiming the Unclaimed” on December 12, 2023, at the NCAER Auditorium in New Delhi.
The workshop emphasized claimants’ awareness of unclaimed funds like provident funds, shares, and dividends. It showcased IEPFA’s role in raising awareness, securing unclaimed shares, and simplifying investor processes within the authority.
This initiative involved university students, fostering financial inclusion at the grassroots level and encouraging innovative ideas about unclaimed funds.
Since its establishment, the IEPFA has conducted several Investor Awareness Programmes aimed at enhancing financial literacy across rural, semi-urban, and urban areas, facilitating the swift retrieval of unclaimed shares, dividends, and debentures for rightful claimants.
Through its research chair at NCAER, IEPFA partnered with NCAER to engage youth at the grassroots level, focusing on educating them about claiming unclaimed assets effortlessly through enhanced awareness.
In her Keynote address, Smt. Anita Shah Akela, CEO of IEPFA and Joint Secretary at the Ministry of Corporate Affairs, emphasized the role of IEPFA in protecting investors’ interests and underscored how the IEPFA regularly works on issues related to investor protection and awareness.
Several presenters spoke at the event about IEPFA’s vital role in securing unclaimed monies with banks, provident funds, shares, and dividends and ensuring their restitution to rightful claimants.
They concentrated on the complexity of the claim settlement process, such as insufficient documentation, document mismatches, legal concerns, delayed replies to inconsistencies, and many people’s lack of information of the specific location of the claim. They also outlined actions to address these concerns.
University students participated in group discussions and presented their thoughts, demonstrating unique thinking on the subject.
They recognized the significance of financial literacy and inclusion for young people, allowing them to make informed decisions and share their knowledge in order to contribute to economic progress and the creation of more equal and secure societies.
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