Sitharaman Tackles India's Unclaimed Mutual Funds and Unpaid Dividends
Union Finance Minister Nirmala Sitharaman is tackling a significant issue in India's financial landscape: unclaimed mutual funds and unpaid dividends. She is working with key stakeholders to address this problem, which highlights the need for improved investor education and financial inclusion.
The scale of unclaimed assets in India is substantial, underscoring the importance of initiatives like the Jan Dhan Yojana. To combat this issue, Sitharaman has introduced the '3 A's' framework, focusing on increasing awareness, accessibility, and action regarding unclaimed assets.
In this collaborative effort, the Securities and Exchange Board of India (SEBI) plays a crucial role. Sitharaman has engaged the National Stock Exchange (NSE) to enhance investor education and prevent unbacked assets. This partnership aims to ensure that investors are informed and their assets are secure.
Union Finance Minister Nirmala Sitharaman is actively addressing the issue of unclaimed mutual funds and unpaid dividends in India. By working with the SEBI and the NSE, she aims to increase investor awareness, improve accessibility to financial services, and encourage action to claim unclaimed assets. These efforts are expected to strengthen India's financial landscape and promote financial inclusion.
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