Unclaimed assets: Create searchable databases

Give a gift worth lakhs to your loved ones this new year without costing a penny to you. Visit, click on “Search unpaid/unclaimed amount” under the “Services” tab, and enter their names in the search box and discover unclaimed shares in their name on the #IEPF website. The probability of discovering lost treasures for your loved ones is much higher if they are born before 1970.
IEPF has recently changed its search functionality to display potential unclaimed amounts/shares based on the inputted name without requiring any more information. Unclaimed shares/dividends worth Rs. 52,000 crores are with IEPF. Similarly large amounts (bank deposits – Rs. 35,000 crores), Insurance-Rs. 25,000 crores, Inactive/unclaimed Mutual Funds (Rs. 18,000 crores) , Provident fund/Small saving schemes (amounts unknown) exist throughout the financial sector. The Finance minister has already announced an integrated portal to ease the process of searching and claiming such amounts.

Unclaimed assets: Create searchable databases Read More »

Searchable database for unclaimed shares needed

Check on this link for the names of any investors who were active in teh stock markets in the 1980s/1990s . The link will provide details if any investor has unclaimed shares or dividends that have been transferred to IEPF. Around 48,000 crores are currently deposited with Investor Education and Protection fund (IEPF). IEPF does not have a functional search facility & investors are left to use private searchable databases.
Once discovered there are long tedious processes to recover the shares/dividends. Whilst action has been initiated by the finance minister to create an integrated portal to make the refund process simpler I make a plea in this article in Business Standard that a transparent searchable database is a must to reduce the mountain of unclaimed assets. comments welcome.

Searchable database for unclaimed shares needed Read More »

Scroll to Top