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Key Points

PMEAC member Sanjeev Sanyal stressed the importance of deploying idle financial assets for national development. The IEPFA conference focused on unlocking the potential of unclaimed assets across India. CEO Anita Shah Akella outlined technological reforms including AI solutions and simplified claim processes. Stakeholders committed to strengthening financial inclusion and investor trust in the ecosystem.

Key Points: Sanjeev Sanyal Urges Productive Use of India's Idle Financial Assets

  • Sanjeev Sanyal emphasizes need for inter-agency coordination on idle assets
  • IEPFA CEO highlights initiatives for faster claim settlements
  • Authority launches AI-driven solutions and financial literacy programs
  • Collaborative reforms aim to strengthen investor confidence nationwide
2 min read

Idle financial assets should be productively deployed for national development: Sanjeev Sanyal

PMEAC member Sanjeev Sanyal calls for policy innovation to deploy idle financial assets for national development at IEPFA's 9th Foundation Day conference.

"Claiming the Unclaimed: Unlocking the Potential of Idle Financial Assets in India - Conference Theme"

New Delhi, Sep 9

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.

- IANS

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Reader Comments

P
Priya S
Finally someone is talking about productive use of idle assets! Instead of letting this money sit unused, it should be channeled into infrastructure projects that benefit the nation. Hope they implement this effectively.
A
Aman W
While the intention is good, I hope they don't make the process too complicated for common people. Government schemes often have so much paperwork that ordinary citizens give up. Simplify it truly!
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Sarah B
The AI-driven solutions mentioned could be a game-changer! India has so much potential in leveraging technology for financial inclusion. Hope they implement user-friendly digital platforms for claim settlements.
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Vikram M
My father had some shares we didn't know how to claim after he passed away. If this initiative helps families like ours recover legitimate assets, it will be a great service to middle-class Indians.
N
Nikhil C
Transparency is key! Hope they maintain proper records and regularly update about how much unclaimed money is being utilized for development projects. Public accountability is important for such initiatives.

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