Having a dormant bank account or not depositing dividend cheques may lead to shares becoming 'unclaimed'
To allow the rightful claimants access to that wealth, the ministry of corporate affairs will soon launch an integrated portal
As of January 31st, 2023, the IEPF stood at Rs 5,675.25 crore, per Lok Sabha data. The average approval time, in many cases, can go up to 200 days.
The unclaimed funds will be deployed only in those overnight, liquid, and money market funds that are placed in a relatively low-risk category.