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Investor Education and Protection Fund Authority and DBS Bank inks MoU to spread awareness on investment and fraudulent schemes - (19 Feb 2024)

Commercial

A Memorandum of Understanding (MoU) was signed between the Investor Education and Protection Fund Authority (IEPFA) and DBS Bank, a prominent financial institution. As per the MoU, DBS Bank aims to support IEPFA's investor awareness activities by disseminating safety messages via its various digital platforms. Leveraging DBS Bank's extensive network of branches and ATMs in 19 Indian states, as well as its digital infrastructure, will significantly increase the reach of IEPFA's investor awareness and protection messages to the end users.

DBS Bank will utilise multiple digital platforms to ensure increased visibility and engagement to impart investor awareness activities of IEPFA, such as:

• display of safety messages on ATM screens to reach customers during banking transactions.

• featuring safety messages prominently on the bank’s website.

• ensuring visibility to online visitors.

• sending safety messages through WhatsApp and other messaging platforms to engage with a broader audience.

• showcasing safety messages on digital screens within DBS Bank branches.

• maximising exposure to customers, and.

• posting safety messages across DBS Bank's social media accounts.

Since its inception, the IEPFA has conducted several Investor Awareness Programmes aimed at increasing financial literacy and empowering investors to protect themselves from financial fraud. The Investor Education and Protection Fund Authority (IEPFA) was set up on September 7, 2016, under the aegis of the Ministry of Corporate Affairs, Government of India, for administering the Investor Education and Protection Fund for making refunds of shares, unclaimed dividends, and matured deposits/debentures, among other things, to investors.

Tags : MOU   INVESTMENT SCHEMES   AWARENESS  

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