CURRENT AFFAIRS

Detailed explanation-1: -Taking a leaf from the ED’s address, the GM Corporate Communication and Wealth Management, Bank of Baroda Shri Opinder Kumar Kaul reiterated the commitments of BoB towards supporting a social cause by collaborating with IEPFA for Investor’ Education and Awareness.

Detailed explanation-2: -Answer:Investor Education and Protection Fund (IEPF) has been established under Section 205C of the Companies Act, 1956 by way Companies (Amendment) Act, 1999 for promotion of investors’ awareness and protection of the interests of investors.

Detailed explanation-3: -investor education and protection fund or IEPF is a fund set up under the Section 205C of the Companies Act, 1956 to pool all the dividends of the Asset Management Companies, matured deposits, share application interests or money, Debentures, interests, etc. that are unclaimed for seven years.

Detailed explanation-4: -The Central Government introduced the Investor Education and Protection Fund (IEPF) to protect investors’ interests and promote awareness. It is established under Section 125 of the Companies Act, 2013 (’Act’). The unpaid or unclaimed amounts belonging to a company’s investors are pooled and credited into the IEPF.