The Investor Education and Protection Fund Authority (IEPFA) much awaited integrated digital portal, likely to be launched soon, would help investors reclaim their rightful shares and dividends within "days" of receiving approval from the authority, which takes over a year currently.
"The time taken for release of shares and dividend goes up to a year after approval of claims by the IEPFA...now it will happen in days," a senior government official told Moneycontrol.
The total number of unclaimed shares lying with the IEPFA is over 1.1 billion, valued about Rs 1 lakh crore, while the total value of unclaimed dividends stands at about Rs 6,000 crore.
The IEPFA is also considering to develop a 'Niveshak Public Infrastructure' (NPI), which would onboard all companies, Registrars and Transfer Agents (RTAs), along with Depositories where single KYC could be done, and used for reclaiming shares and dividends, said another person.
"At NPI, the Aadhaar-biometrics can be used for a face scan as proof…the risk metrics would be added to this," the person said.
Established in 2016, the IEPFA, functioning under the Ministry of Corporate Affairs (MCA), is dedicated to safeguarding investor interests by facilitating the return of unclaimed shares and dividends and advancing financial literacy nationwide. Through flagship initiatives such as Niveshak Didi, Niveshak Panchayat, and Niveshak Shivir, IEPFA empowers individuals to make informed financial choices and fosters a financially aware citizenry, says its website.
On August 1, an official release from MCA said that IEPFA is in the "final phase" of testing its Integrated Portal--a unified digital platform designed to streamline claim processes and enhance accessibility for both investors and companies. Moneycontrol had reported earlier, the portal will be launched in August.
The portal will integrate key stakeholders—including depositories and the Public Financial Management System (PFMS)—to provide a seamless and efficient experience, the release said.
Currently, individual investors have to go through a rigorous process to validate their claims on dividends and shares, which involves online submission of several documents with the IEPFA.
In parallel, the authority is also undertaking a comprehensive review of documentation requirements for low-value claims, with the aim of introducing a simplified and faster claim settlement approach, the release said.
Additionally, to strengthen its grievance redressal system, IEPFA is launching an 'Integrated Call Center' that will offer more efficient, responsive, and stakeholder-friendly communication, it said.
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