New Delhi, Sep 27 (UNI) To enable greater dissemination of information so as to enable retail investors to participate in the capital markets, Minister of Corporate Affairs Prem Chand Gupta today launched a website of Investor Education and Protection Fund (IEPF), www.iepf.gov.in.
The website, dedicated to the education and protection of investors, is free of charge. Speaking on the occasion, the Minister assured that protection of investors' interest is government's prime concern and every necessary step would be taken for the purpose.
''We are a country with one of the highest savings rate but have not succeeded in utilising these savings. It is important to move from a being a nation of savers into investors and wealth creators,'' Mr Gupta said.
Speaking on the launch Ministry of Corporate Affairs Secretary Anurag Goel said the new website will look to increase awareness of IEPF and empower investors.
''With a corpus fund of Rs 400 crores with IEPF, money was never the issue. The launch of this website now will provide a unified platform for all investor education,'' Mr Goel said.
The month of September is being observed as 'Investor Awareness Month' by the Ministry of Corporate Affairs. A large number of programmes aimed at educating the investors and spreading awareness amongst them have been organised throughout the country during the month.
The Institute of Chartered Accountants of India, Institute of Company Secretaries of India and the Trade and Industries Associations have actively collaborated to organize these programmes.
As a culmination of various programmes this month, a 'National Convention on Investor Awareness' was held here today. Besides the launch of IEPF website, the Minister also released 'Handbook on Capital Market Regulations', a publication of the Institute of Charterd Accountants of India, during the convention.
During his address, Mr Gupta emphasised the need for transparency in the functioning of the corporate sector to generate confidence of the people in the financial market. The Minister said that the Government has taken many steps towards this direction including, legislative and administrative reforms and introduction of information technology in delivering the services.
Many more initiatives are in the process, the culmination of which will pave the way for better and smoother functioning of the corporates, he said.
''New Company Law is one of such initiatives, the bill for which is in the final stages of preparation. We hope to introduce it in the coming winter session of the parliament. The new law is likely to strike a fine balance between the freedom and accountability.
It will also provide for a much better and stronger mechanism for protecting the interests of investors,'' said the Minister.