Idle Financial Assets Should Be Productively Deployed For National Development: Sanjeev Sanyal

(MENAFN- IANS) New Delhi, Sep 9 (IANS) There is a critical need for innovative policy frameworks and inter-agency coordination to ensure that idle financial assets are productively deployed for national development, according to Sanjeev Sanyal, Member of the Prime Minister's Economic Advisory Council (EAC).

Sanyal also appreciated the initiatives undertaken by the Investor Education and Protection Fund Authority (IEPFA) for significant process reforms, while participating in its 9th Foundation Day here.

The theme of the conference was "Claiming the Unclaimed: Unlocking the Potential of Idle Financial Assets in India".

Joint Secretary, Ministry of Corporate Affairs, and IEPFA CEO Anita Shah Akella highlighted the authority's initiatives to strengthen investor protection, simplify claim settlements and spread financial literacy across India.

She emphasised the authority's journey towards becoming a trusted guardian of investor interests through reforms anchored in transparency, technology and trust, and highlighted key initiatives, including the Integrated Portal for Claims and Refunds, simplification of low-value claims, and financial literacy drives like Niveshak Didi and Niveshak Shivirs.

Announcing the upcoming Niveshak Samadhan–Dial Your CEO programme, Akella outlined IEPFA's Panchtattva vision to deliver faster refunds, adopt AI-driven solutions, and position the IEPFA as a trust anchor of India's financial system, reaffirming that its true impact is measured in lives touched.

IEPF Chair Professor, NCAER, Dr C.S. Mohapatra, underlined the importance of collaborative reforms to reduce claim timelines, improve transparency, and build greater investor confidence. The sessions witnessed the participation of senior policymakers, regulators, and experts from diverse sectors.

The roundtable concluded with a collective commitment from all stakeholders to unlock the potential of unclaimed assets, strengthen financial inclusion, and reinforce investor trust in the Indian financial ecosystem, according to a statement by the Ministry of Corporate Affairs.

The IEPFA was established on September 7, 2016, under the Ministry of Corporate Affairs. It is responsible for managing the Investor Education and Protection Fund, which focuses on safeguarding investor interests by facilitating the refund of shares, unclaimed dividends, and matured deposits/debentures.

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