In a bid to expedite the refund of unclaimed shares and dividends to their rightful recipients, the Investor Education and Protection Fund Authority (IEPFA) is all set to roll out is ‘integrated portal’ by August 2025, Moneycontrol has learnt from sources familiar with the development.
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 one-stop digital platform is designed to streamline the claims process by offering real-time tracking, direct communication with companies, and instant data validation through interfaces with PAN, depositories, and banks. The portal aims to provide investors with a more efficient, transparent, and user-friendly experience.
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.
The authority, along with capital market regulator Sebi, is planning to hold ‘Niveshak Shivirs’ across major cities in the coming weeks, to help resolve issues of investors.
Read More: How reclaiming of lost shares will become quicker under proposed changes
Through the Niveshak Shivir, the IEPFA plans to help transfer unpaid dividends held by the companies directly to investors, without its involvement. “This would ensure that dividends are transferred in a hassle-free and smooth manner (to the investors) with IEPFA acting as a bridge,” said one official.
Sebi and IEPFA intend to onboard Registered Transfer Agents (RTAs) and companies for such programme, officials told Moneycontrol. A Registered Transfer Agent (RTA) is a Sebi-registered entity that handles crucial record-keeping and administrative tasks for mutual funds and companies that issue shares to the public.
The IEPFA over the last two years has undertaken several measures aimed at strengthening investor empowerment, and simplifying access to unclaimed shares and dividends. One key step is the relaxation of key documentation requirements for claiming shares, replacing notarization with self-attestation, and waiving the need for succession certificates for claims up to Rs 5 lakh.
The organisation has also introduced an enhanced online search facility on its portal, to enable investors and their legal heirs to easily track and identify unclaimed shares and dividends.
Established in 2016, the IEPFA is entrusted with the responsibility of administration of the Investor Education Protection Fund (IEPF), make refunds of shares, unclaimed dividends, matured deposits/debentures to investors, and to promote awareness among investors.
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