SRINAGAR: Union Minister of State for Corporate Affairs, Statistics and Programme Implementation and Planning, Rao Inderjit Singh today inaugurated day-long Investors Education, Awareness & Protection Conference here at SKICC.
The conference was organized by the Investor Education and Protection Fund Authority (IEPFA) under the aegis of Ministry of Corporate Affairs.
The event was also graced by Dr. Farooq Abdullah, Member of Parliament from Srinagar; Anita Shah Akella, CEO IEPF Authority & Joint Secretary, MCA; Sanjay Shorey, Regional Director (Northern Region), Ministry of Corporate Affairs; Haamid Bukhari, Registrar of Companies (ROC) Srinagar and other dignitaries from the Union Territory of Jammu & Kashmir along with senior officials from IEPF Authority, India Post Payment Bank and Department of Posts, CSC e-governance, Institute of Company Secretaries of India, Kashmir Chamber of Commerce, Central Reserve Police Force.
During the inaugural session, the Chief Guest Rao Inderjit Singh and Guest of Honour Dr. Farooq Abdullah released various major initiatives of IEPF Authority and Ministry of Corporate Affairs which include:
1. IEPFA Mascot “Fundoo” which was selected through Jan-bhagidari after a month-long open contest on MyGov platform. The mascot is conceptualized with an idea symbolizing IEPFA’s vision of taking investor awareness to the last miles with the objective of making it easier to connect with its message, mandate and initiatives.
2. “Niveshak Didi” which is a unique endeavour of IEPF Authority with India Post Payment Bank wherein Investor Education will be promoted in “By the women, for the women” concept. The Niveshak Didi i.e. female Dakiya has intense social connect to the rural population especially women. Three representatives Niveshak Didi from the valley were given certificates by the Chief Guest and Guest of Honour during the Conference.
3. “Niveshak Sarathi”, an investor awareness van was flagged by MoS and MP and is an initiative by IEPFA to promote financial literacy among people in far-flung areas by spreading knowledge through dedicated audio-visual and print material & a specially designed van equipped with a TV display, public announcement system, internet connectivity etc.
4. “Investors’ Handbook” which is a concise compilation of information on savings, budgeting, and investments and provide a vast knowledge of financial instruments in capsule form thereby enabling them to make informed and sensible financial decisions.
5. “75 dedicated IAPs” in the Union territory of J & K to involve stakeholders of different segments of society in the caravan of Investor Awareness.
The minister during his keynote address appreciated IEPFA’s initiative of conducting the Conference on Investor Education & Awareness in Srinagar, Jammu & Kashmir.
He also shared ideas, need and significance of spreading inclusive financial literacy, investor awareness & protection for overall economic growth and nation building.
MP from Srinagar, Dr Farooq Abdullah also spoke on the occasion and thanked IEPFA for organizing the conference in Srinagar and hoped that the conference will help to make people aware about the online frauds in J&K.
The inaugural session was followed by a technical session on Financial Literacy as a tool for Economic development. The event was summed up with Nukkad Natak, quiz and other related activities on Financial Literacy involving School Students and other diverse audiences. The conference was attended by around 650 delegates which included students, professionals, academicians, housewives, artisans, CRPF personnel, panchayat representatives and general public from the UT of J&K.
IEPF Authority has been established under sub-section (5) of section 125 of Companies Act, 2013 with the objective of promoting Investor Education, Awareness and Protection and for administration of the IEPF fund. It has undertaken a wide gamut of activities to accelerate the pace of investor education among the masses at large.
Till date more than 65,000 Investor Awareness Programmes covering above 30 lacs citizens have been conducted by IEPFA. In addition, more than 28,000 claim refunds have been approved with transfer of about 1.6 Cr shares and related dividends.