New Delhi: Shri Injeti Srinivas Secretary, Ministry of Corporate Affairs (MCA) and Chairman Investor Education Protection Fund (IEPF) Authority, unveiled the new logo of IEPF Authority here today and said that it is essential to use technology to provide time bound services. Technology overcomes the limitation of space, time and resources. We need a technology driven enforcement mechanism without exception.
The IEPF logo symbolises the values and mandate of the Authority i.e. Promoting Investor’s Awareness, Education and Protection. The logo pictorially depicts: People in the middle symbolises Investors, Outer Hands symbolises protection to investors, Pen Nib symbolises Education of Investors and Rupee symbol denotes Investments.
In another big leap towards promoting investor education and protection, IEPF Authority also signed Memorandum of Understanding (MoU) with the CSC E-Governance Services India Limited. The MoU formalises the mutual interaction and strengthens the existing relationship between the IEPF Authority and the CSC e-Governance Services at the strategic and working level. The objective of the MoU is to effectively implement the mandate of the Authority of educating and protecting investors.
Highlighting the need to synchronise the working of IEPF Authority with MCA, Shri Srinivas said that this whole transaction is part of the Companies Act 2013 and it will develop as part of MCA21, which is a robust platform created by Ministry of Corporate Affairs.
Elaborating on the increasing role of the IEPF in the present times, Shri Srinivas said that in the past two months, the number of claimants has gone up to 10,000. Earlier, IEPF only had small number of claims around 2,000. Now around 1,500 claims are coming in every month. IEPF has given refund of more than Rs 2,000 crores.
Present on the occasion were members of IEPF Authority, Shri Gyaneshwar Kumar Singh CEO IEPF Authority and Senior Officers of the Authority.
About MoU:
As part of the MoU, CSC will identify Village Level Entrepreneurs (VLEs) for IAPs, prepare Information, Education and Communication (IEC) materials in close consultation with the Authority; provide master training to the selected VLEs managing the CSCs on training of trainer concept (TOT), conduct publicity for the project, monitor the progress and ensure timely execution of the project and maintain the MIS of the project in agreed to formats.
CSC SPV shall also develop and manage a dynamic web portal to enable real time assessment of the IAPs conducted on behalf of IEPF Authority. The portal would facilitate the monitoring and progress of project, publicity of investor awareness programmes conducted by the partner institutions (ICAI, ICSI, ICMAI, IICA, and NFCG) and will also facilitate engagement of Resource Persons for conducting Investor Awareness Programmes.
