IEPFA Committee proposes simplified documentation for low-value claims to enhance ease of living

A new move aims to make it easier for investors to claim their money from the government. The Investor Education and Protection Fund Authority (IEPFA) has formed a special committee to simplify the paperwork involved in low-value claims. The government shared this news on Saturday, highlighting how these changes will help speed up processes, increase transparency, and make life easier for investors.

The committee, made up of officials from the Ministry of Corporate Affairs, SEBI, ICAI, ICMAI, ICSI, and other industry groups, reviewed current rules and suggested ways to simplify claims for small amounts. Their goal is to reduce the time it takes to process claims and remove unnecessary hurdles.

Once the recommendations are approved, the simplified rules will apply to claims up to Rs 5 lakh for physical securities, Rs 15 lakh for demat securities, and dividends up to Rs 10,000. This will help thousands of investors recover their unclaimed money more easily.

Since 2016, the IEPFA has been managing the Investor Education and Protection Fund, working to protect investor interests in India. The authority helps people claim their unclaimed shares, dividends, and other deposits. They also work to promote financial literacy and transparency across the country.

Recently, IEPFA launched a campaign to raise awareness about unclaimed dividends. They are encouraging shareholders to update their KYC and nomination details so they can claim their dividends without any issues.

This new initiative is a positive step toward making investor services more efficient and trustworthy, helping more people recover their investments smoothly.