NEW DELHI :The Government of India is working on an integrated digital platform to streamline the process of resolving investor grievances, aiming to reduce delays and improve transparency, a top official said on Friday.
Speaking at a seminar on “IEPF, Corporate Exits & Investors Protection” organized by the PHD Chamber of Commerce and Industry (PHDCCI), Anita Shah Akella, CEO of the Investor Education and Protection Fund Authority (IEPFA) and Joint Secretary, Ministry of Corporate Affairs, said current claim processing takes too long due to heavy reliance on physical verification.
“We’re trying to bring down the timeline for processing claims by moving toward digital validation,” Akella said, noting that many cases require time-consuming document checks to verify claimants’ identities and entitlements.
She outlined a series of steps already in motion to improve the claimant experience, including:
- A new search feature to help investors find out whether their unclaimed shares are with the IEPFA or the original company,
- Integration of the MCA21 portal with depositories and the Public Financial Management System (PFMS), and
- Pre-validation of Aadhaar, PAN, demat account and bank details at the time of form submission.
Akella also highlighted recent efforts to improve grievance redressal. A ticketing system has been implemented on the MCA Portal to help users track responses in real time. In addition, she mentioned the ongoing weekly “Niveshak Panchayat” sessions in Delhi and “Niveshak Sunwai” events being held in cities across India.
The IEPFA, in collaboration with the Securities and Exchange Board of India (SEBI), has also launched Niveshak Shivir investor camps to provide in-person assistance for resolving issues of physical shareholders. The first such camp was recently held in Pune.
