SEBI and IEPFA Conduct the First “Niveshak Shivir” in Pune Proactive Joint Initiative to Minimise Unclaimed Assets and Facilitate Investor Claims for Unpaid Dividends and Shares

## Report on SEBI and IEPFA's Niveshak Shivir Initiative **1. Executive Summary:** This report analyzes the joint initiative by the Securities and Exchange Board of India (SEBI) and the Investor Education and Protection Fund Authority (IEPFA) called "Niveshak Shivir", launched in Pune on June 1, 2025. The core purpose of this initiative is to minimize unclaimed investor assets, specifically unpaid dividends and unclaimed shares, by facilitating investor claims. The report highlights the key provisions of the Shivir, including on-the-spot assistance with claims processing, KYC updates, and the provision of a search facility to identify unclaimed assets. The key finding is that this is a proactive initiative to address the persistent problem of unclaimed investor assets through direct engagement and assistance. **2. Introduction:** The purpose of this report is to provide an informative overview of the joint "Niveshak Shivir" initiative by SEBI and IEPFA, based solely on the provided policy text. The report aims to outline the policy's objectives, key features, target audience, and expected outcomes, providing a clear understanding of this initiative. **3. Policy Overview:** * This is a new initiative, not an amendment to an existing policy, according to the text. * **Core Objective(s):** * Assist shareholders in reclaiming unpaid dividends and unclaimed shares. * Reduce the volume of unclaimed investor assets in the system. **4. Background and Rationale:** As a new policy, the Niveshak Shivir initiative addresses the longstanding issue of unclaimed investor assets within the financial system. The text implies that a significant amount of dividends and shares remain unclaimed, indicating a need for proactive measures to help investors recover these assets. The existence of the IEPFA further suggests that this problem has been recognized and requires targeted intervention. The shivir seeks to bridge the gap between investors and their unclaimed investments through direct engagement and simplified claim processes. **5. Key Provisions / Changes:** As a new policy initiative, the Niveshak Shivir establishes the following key provisions: * **Organization of Niveshak Shivirs:** Establishes physical events ("Shivirs") where investors can receive assistance with reclaiming unclaimed assets. * **Collaborative Approach:** Mandates collaboration between SEBI, IEPFA, Market Infrastructure Institutions (MIIs) like NSE, BSE, NSDL, and CDSL, and Registrar and Transfer Agents (RTAs). * **Comprehensive Assistance:** Provides on-site assistance with: * Claiming dividends and shares unclaimed for over six years. * Updating KYC and nomination details. * Resolving claim-related issues. * Processing pending claims submitted to IEPFA. * **Search Facility:** Establishes a dedicated search facility at the venue to help participants identify potential unclaimed assets. * **Guided Claim Process:** Provides trained officials to assist claimants with the accurate submission of the IEPF 5 form. * **Investor Education:** Includes the release of an "Investors Guide to Claiming Unpaid and Unclaimed Dividends and Shares," outlining a simplified claim process. **6. Target Audience and Stakeholders:** Based on the text, the target audience and stakeholders directly affected by this initiative are: * Shareholders with unclaimed dividends and shares, particularly those unclaimed for over six years. * Claimants seeking to recover assets on behalf of deceased or otherwise incapacitated investors. * Market Infrastructure Institutions (MIIs): NSE, BSE, NSDL, and CDSL. * Registrar and Transfer Agents (RTAs): KFin Technologies Ltd., Bigshare Services Pvt. Ltd., Datamatics Business Solutions Ltd., Purva Sharegistry India Pvt. Ltd., and MUFG Intime India Pvt. Ltd. * SEBI and IEPFA as the implementing and oversight bodies. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** SEBI and IEPFA are jointly responsible for organizing and overseeing the Niveshak Shivirs. MIIs and RTAs are responsible for providing support and assistance at the Shivirs. * **Timelines and Procedures:** The pilot Shivir was conducted on June 1, 2025, in Pune. The text mentions a daylong event from 10:00 a.m. to 4:30 p.m. The procedure involves verification of claimants, assistance with IEPF 5 form submission, and claim processing. The guide released by SEBI & NSDL provide a step by step process to claim via the IEPF portal. * **Future Plans:** The text suggests future Shivirs will be conducted in other cities based on the learnings from the Pune pilot. A city-wise calendar for future Shivirs will be finalized. **8. Expected Outcomes / Impact of Changes:** The likely intended outcomes of the Niveshak Shivir initiative are: * Increased recovery of unclaimed dividends and shares by investors. * Reduction in the overall volume of unclaimed investor assets. * Improved investor awareness regarding the process of claiming unclaimed assets. * Enhanced investor confidence in the securities market. * Streamlined claim process through direct assistance and simplified procedures. **9. Conclusion:** The Niveshak Shivir initiative represents a proactive and collaborative effort by SEBI and IEPFA to address the issue of unclaimed investor assets. By providing direct assistance, simplifying claim processes, and raising investor awareness, this initiative has the potential to significantly reduce the volume of unclaimed assets and empower investors to reclaim their rightful dues. The pilot program in Pune serves as a valuable learning experience for future Shivirs, which are expected to be conducted in other cities with significant unclaimed investor assets. This initiative underscores SEBI and IEPFA's commitment to investor protection and financial empowerment.

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