UNCLAIMED SHARES
MCA likely to simplify process for transfer of unclaimed shares
The corporate affairs ministry plans to simplify documentation for transferring unclaimed shares and dividends to investors through the IEPFA. A panel's report suggests reforms for claims up to ₹5 lakh for physical securities, ₹15 lakh for dematerialized securities, and ₹10,000 for dividends. This initiative aims to reduce timelines, improve transparency, and provide hassle-free services to investors.
Polish CEO Piotr Szczerek identified as tennis player Kamil Majchrzak's selfish fan in cap snatching incident viral video at US Open
Polish CEO Piotr Szczerek gets identified as tennis player Kamil Majchrzak's selfish fan in US Open cap snatching incident viral video. Businessman sparked outrage by snatching a signed cap meant for a child, leading to global online backlash.
What is Verizon SOS mode-only issue? Verizon outage, SOS mode meaning, iPhone and Android fixes, and carrier updates explained
What is Verizon SOS mode-only issue? Verizon outage forced many phones into SOS mode from 1:43 pm EDT, disrupting calls, texts, and data. This explainer covers outage reports, SOS meaning, iPhone and Android fixes, Wi-Fi calling options, carrier settings update steps, and guidance from Apple and Verizon support.
Verizon Outage: How to fix SOS mode-only issue explained for users
Verizon Outage How to fix SOS mode-only issue impacted thousands of users across the United States. Customers reported being stuck in SOS mode, unable to call, text, or access mobile data. Apple and Verizon shared troubleshooting methods. This was the third major Verizon outage in 2025, raising reliability concerns.
Is Verizon Down? Thousands report outage, SOS mode issues and service disruptions. Here's what happened
Is Verizon down? Thousands of customers across the United States reported widespread service outages, with many devices stuck in SOS mode. The outage, detected around 1:43 p.m. EDT, affected calls, texts, and mobile data. Complaints flooded social media, while Apple and Verizon shared troubleshooting advice and limited updates.
When is the next mega million drawing and how can you buy the ticket? Check winning numbers
The Mega Millions jackpot is now at 253 million dollars. No one won the recent drawing. The next chance to win is on Friday, August 29. Powerball is even bigger, reaching 815 million dollars. It is the seventh-largest in Powerball history. The next Powerball drawing details are available. Both offer a large cash payout option for winners.
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Final warning: Amazon app shuts down on Android in days — see if you are owed refund before it’s gone
Amazon has officially announced that its Android Appstore will close forever on August 20, 2025, ending years of slow decline. While Fire TV and Fire Tablet users remain unaffected, Android users are urged to check their accounts immediately. Any unused Amazon Coins will be refunded automatically, but only if payment details are up to date.
Mega Millions Numbers: Did anyone win August 15 Jackpot? When is the next draw
Each Mega Millions entry is priced at $5 and now comes with an automatic multiplier feature. This built-in addition replaces the former “Megaplier” option, boosting non-jackpot prizes without requiring players to pay extra.
Public sector banks can transfer unclaimed shares, bond redemption amounts to IEPF from Aug 1
Amendments to the Banking Laws Act now allow PSBs to transfer unclaimed funds to the IEPF, aligning them with company practices. PSBs can now offer remuneration to statutory auditors, improving audit quality. The 'substantial interest' threshold increased to Rs 2 crore, and director tenures in cooperative banks extended to 10 years, effective April 1, 2025.
ChatGPT helps Delaware mom clear over $12,000 debt in 30 days
Jennifer Allan, a realtor, cleared over twelve thousand dollars in credit card debt in one month. She used daily advice from ChatGPT. Allan faced financial struggles after her daughter's birth. The AI suggested tasks like canceling subscriptions and selling items. Allan found a forgotten brokerage account. She paid off more than half her debt and cut expenses.
Financial sector regulators to work on universal KYC
Financial sector regulators, led by the RBI, are developing a universal KYC framework with the CKYCR to streamline verification processes. Nirmala Sitharaman urged regulators to ensure seamless KYC experiences for citizens and expedite refunds of unclaimed amounts through district-level camps. The FSDC also discussed strengthening cybersecurity and implementing budget announcements related to KYC simplification for NRIs, PIOs, and OCIs.
FM Nirmala Sitharaman asks regulators to expedite refund on unclaimed deposits, streamline KYC
Finance Minister Nirmala Sitharaman urged regulators to expedite unclaimed deposit refunds and streamline KYC processes during the 29th FSDC meeting. The council emphasized macro-financial stability, cybersecurity resilience, and inter-regulatory coordination. Members also discussed implementing budget announcements, improving factoring services, and reviewing past FSDC decisions to strengthen the financial sector.
Big relief proposed by RBI for account holders in activating an inoperative bank account or claiming unclaimed deposits
The Reserve Bank of India proposed on May 23, 2025, to ease access to inoperative accounts and unclaimed deposits. Banks will be required to offer KYC updates at all branches, including video KYC, if requested. Doing this KYC will help you claim the previously unclaimed money. Public comments on the draft circular are invited until June 6, 2025, before the rule is finalized.
Rs 11,000 crore in Reliance shares lie unclaimed, says Gurmeet Chadha warning of IEPF bottlenecks
Responding to Chadha’s post, Abhinav Roy commented, “Retrieving shares from the IEPF is extremely frustrating. I applied for my father’s shares, and even after 1.5 years and getting all approvals from the RTA, the shares still haven’t been credited!”
RIL shareholders: How to claim your unpaid dividends before they're transferred to IEPF
Reliance Industries informs shareholders about unclaimed dividends. Dividends unclaimed for seven years will be transferred to the Investor Education and Protection Fund. Shareholders must claim by August 4, 2025. A dedicated webpage helps check eligibility for transfer. Even after transfer, shares can be reclaimed. The IEPF protects investor interests and facilitates refunds. Claim shares promptly to avoid transfer.
Indian Oil to transfer unclaimed shares of investors to govt fund by this date: How to check if your name is on the list
If you haven't claimed dividends on Indian Oil shares for seven consecutive years or more, the shares will be moved to a government fund. Here is how to check if your name is on the list
Unclaimed shares moved to IEPF, a govt fund? Here's a step-by-step guide on how to get back shares
Unclaimed shares: If you have found that your shares have been transferred to Investor Education and Protection Fund (IEPF) then do not worry. You can get these shares back from the IEPF Authority by filling up the online IEPF-5 e-form. However before filing up thise-form you need to know certain important aspects like entitlement letter. Read here to know more.
MCA mulls faster transfer of old unclaimed shares to beneficiaries
The corporate affairs ministry is considering a faster method for transferring shares, dividends, and matured debentures in inactive accounts that have not been claimed for over seven years. The ministry plans to allow companies to settle claims after following due processes and obtaining IEPFA approval. The authority will transfer unclaimed papers to companies for refunds within 15 days.
Have unclaimed dividends and shares? You can recover them
According to industry estimates, around ₹55,700 crore of shares and dividends have been shifted to the government's Investor Education and Protection Fund (IPEF) as they were lying unclaimed in demat accounts for several years.
Unclaimed shares? Grievances can be aired via video con soon
Among the fresh initiatives, the MCA will soon launch an integrated portal, as proposed in the budget for FY24, to enable investors to get back unclaimed dividends and shares quickly. The portal will have a search option that will allow people to check their unclaimed shares and dividends lying with the IEPFA. Subsequently, it could launch another option to process investors' claims through the portal.
Government to launch portal for unclaimed dividends, shares by February
The Investor Education and Protection Fund Authority (IEPFA), under the corporate affairs ministry, is also planning to ease the process for investors to get the unclaimed shares and dividends, the official told ET, adding that this will curtail the requirement of certain superfluous documentations.
Rs 35,000 crore unclaimed deposits: Check out, your money could be lying here
A deposit is considered to be unclaimed if there has been no activity on it for ten years or longer, such as a deposit of funds or a withdrawal from the depositor. Harsh Roongta, Founder, Fee Only Investment Advisers LLP, told ET last month this amount could be as high as Rs 50,000 crore. Early last month, the Supreme Court asked the Ministry of Finance to respond to a PIL seeking a mechanism to inform the legal heirs of deceased depositors about the unclaimed deposits lying dormant in bank accounts.
Harsh Roongta on what can be done to prevent unclaimed deposits in banks, shares & debentures
India has about Rs 50,000 crore ($12bn) of unclaimed assets, including unclaimed shares and dividends, from small savings funds, insurance, and Rs 35,012 crore from different banks, according to Harsh Roongta. A deposit, deemed unclaimed after 10 years is transferred to the Reserve Bank of India’s Depositors Education and Awareness Fund. Roongta highlighted that each bank has its own database, making it challenging for people to search for their unclaimed deposits.
Awareness towards IEPF and reclaim process is very-very low: Sanjeev Bajaj, NISM
In order to claim the assets, rightful investor, rightful owner has to first of all establish the claim on that in the proper manner. He has to or she has to apply online with the IEPF authority.
Reclaiming shares and dividends to take less time
"For investors to reclaim unclaimed shares and unpaid dividends from the Investor Education and Protection Fund Authority with ease, an integrated IT portal will be established," said finance minister Nirmala Sitharaman in the budget speech.
LIC has Rs 21,500 crore unclaimed funds: How LIC policyholders can check for unclaimed amount
If any LIC policyholder or a beneficiary wants to know whether any amount under his/her LIC policy is lying unclaimed with the insurer, this is what they should do.
How to check if there is any amount unclaimed under LIC policy
If any money is left unclaimed for more than 10 years, all the amount is transferred to the Senior Citizen Welfare Fund, such funds are used for the benefit of senior citizens, as per rules.
IEPFA launches investor helpline
Corporate affairs secretary Injeti Srinivas said that the helpline was set up was a major step to address the concerns of various claimants, according to a government release. The helpline was an initiative by the IEPFA with the help of Common Services Centre (CSC) e-Gov SPV under the IT and electronics ministry.
Unclaimed shares, insurance, deposits: How to find and get your dues back
Crores of rupees are lying with banks, and other organisations. Here’s how you can get back your money.
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