If the past was characterised by fragmentation and delay, we are determined that the future must be defined by integration, speed, and accountability, says Akella
The Investor Education and Protection Fund Authority (IEPFA) will take “small steps” in the direction to fast-track refund process of shares and dividends to their rightful owners going forward, the Fund’s CEO Anita Shah Akella said on Monday.
“Our vision is clear, and it is ambitious. We aim to take small steps to refund the shares and dividends within 60 days for larger claims and 30 days for low value claims. We shall use the dual ‘astra’ (weapon) of technology and rules to achieve this,” Akella said in her address of IEPFA’s 9th Foundation Day.
On Saturday, a committee of the IEPFA, proposed simplified documentation for low-value claims to enhance ease of living for investors, an official release said. The Committee’s suggestions, once adopted by IEPFA, would be applicable to claims valued up to Rs 5 lakh (for physical securities), Rs 15 lakh (for demat securities), and on dividends up to Rs 10,000, it said.
IEPFA is responsible for managing the Investor Education and Protection Fund (IEPF), which focuses on safeguarding investor interests by facilitating the refund of shares, unclaimed dividends, and matured deposits/debentures. Through its initiatives, the IEPFA aims to ensure transparency, protect investors’ rights, and promote financial literacy across the country.
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.
“We will build ‘Niveshak Setu’—a digital bridge connecting every Indian investor to information, grievance redressal, and financial empowerment. The integrated portal is only the first step; the bridge must now extend across the length and breadth of the country,” noted the CEO.
The IEPFA is in its final phase of testing its ‘Integrated Portal’–a unified digital platform designed to streamline and simplify the process of claiming unclaimed shares and dividends. The portal aims to make the process more accessible for both investors and companies. It integrates key stakeholders like depositories and the Public Financial Management System (PFMS) to provide a seamless and efficient user experience.
Akella further said that the IEPFA must move from financial literacy to financial capability. “It is not enough that citizens are aware of financial products; they must have the confidence to use them wisely, to protect themselves from fraud, and to build resilience in their savings,” she said.
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“Fourth, we will embrace artificial intelligence and data analytics to proactively identify dormant accounts, trace rightful claimants, and ensure that funds return to families swiftly—sometimes even before they realise they are entitled to them. We move to eKYC and Aadhar based face authentication and filing on IEPFA App,” said the CEO.
“Fifth and finally, we must evolve from being seen merely as a refund mechanism to being recognised as a trust anchor of India’s financial system—a guarantor of fairness, a custodian of investor confidence, and a catalyst for inclusive growth in our markets,” she added.
If the past was characterised by fragmentation and delay, we are determined that the present—and more importantly the future—must be defined by integration, speed, and accountability, Akella said, highlighting that the forthcoming Integrated Portal, represent precisely this shift: from silos to synergy, from compliance-centric to citizen-centric functioning.
“For decades, claimants had to navigate a maze of institutions—registrars, depositories, banks, government systems. For the first time, we have brought them together on a single digital platform. It is transparent, it is trackable, and it is transformative. A claimant now has one entry point and one visible journey from application to refund. This is how government should work—seamlessly, efficiently, and in service of the citizen,” she said.