26th March 2018: Any unpaid or unclaimed amount needs to be transferred to an unclaimed dividend account within the next seven days. Money lying unclaimed in this account for seven years gets transferred to the Investor Education and Protection Fund. Just days back it was revealed that as much as Rs 11,302 crore lies unclaimed in bank accounts. Separately, different studies have shown that Rs 12,000 crore in insurance and about Rs 500 crore in mutual funds (MF) are unclaimed.
Posted at 20 Apr, 01:34h in News