(The Gist of PIB) IEPFA  [DECEMBER-2019]

(The Gist of PIB)  IEPFA

IEPFA

• The surprise move was prompted by a spike in headline inflation above the 4% medium-term target in October, while growth fell to a six-year low of 4.5% in the September quarter.
• Investor Education and Protection Fund Authority (IEPFA) signed an MOU with Bank of Baroda for Investor Awareness.

Key highlights:

• In 2016, Government of India established Investor Education and Protection Fund Authority (IEPFA) under the provisions of section 125 of the Companies Act, 2013.
• The Authority is entrusted with the responsibility of administration of the Investor Education Protection Fund (IEPF), make refunds of shares, unclaimed dividends, matured deposits/debentures etc. to investors and to promote awareness among investors.
• IEPF has been set-up under Section 205C of the Companies Act, 1956 by way of the Companies (Amendment) Act, 1999.

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Courtesy: PIB