IEPFA Integrated Portal 2.0: Faster Unclaimed Shares Claims
Why in the news
The Investor Education and Protection Fund Authority intends to overhaul its portal so that investors and heirs get claims cleared quicker.
Key facts
- Speed: about 15 days per claim; AI and analytics will verify claims and spot dormant accounts.
- Mobile app: apply and track claims.
- Verification: online KYC and Aadhaar-based face authentication.
- Structure: independent of MCA21, shielding it from MCA21 V3 glitches that had delayed earlier settlements.
Significance
- Speeds up transfer of unclaimed shares, dividends and matured debentures.
- Boosts investor protection, corporate governance and digital governance.
Exam angle
- Authority: IEPFA under the Ministry of Corporate Affairs.
- Target time: 15 days.
- Data link: API from MCA21.