Question : UTILISATION OF FUNDS AVAILABLE IN EIPF

referring to the reply given to USQ No. 7162 Dated 13th May 2005 and state:

(a) the steps being taken to utilize the amount available under Investor Education and Protection Fund (IEPF);

(b) whether the amount sanctioned and disbursed to the Investors Association very late in a financial year;

(c) if so, the reasons therefor;

(d) the number of proposals received from Investors Association during the last one year;

(e) the funds sanctioned for the year 2005-06 and the programme chalked out for 2005-06;

(f) the status of total fund credited to IEPF till now;

(g) whether the Government is considering to transfer the said fund to SEBI; and

(h) if so, the details thereof?

MINISTER OF COMPANY AFFAIRS (SHRI PREM CHAND GUPTA)

(a) It has been decided to implement the following activities for utilization of funds under Investor Education and Protection Fund (IEPF) :


(i) Education programmes through Media (Electronic as well as print media);


(ii) Providing financial assistance to Voluntary associations or institutions for Investor`s Education and Protection including research activities;


(iii) Coordinating with institutions engaged in Investor education, awareness, and protection activities;

(b) No, Sir.

(c) Does not arise.

(d) During the year 2004-05, IEPF has received 34 applications from various Voluntary associations and Institutions for registration as well as financial assistance.

(e) For the year 2005-2006, the IEPF has been allocated a budget of Rs.2.5 crores. The programme chalked out for 2005-2006 is as follows: -


(i) Organisation of two `Training of Trainers` programme especially for new organizations which have a rural outreach, even if such organizations had not been registered with the IEPF.


(ii) Media Campaign through DAVP by organizing three series of investor education publicity campaign and also through AIR-FM.


(iii) Organisation of three Investor Melas at three different cities to provide opportunity to the capital market intermediaries and the investors to come together.


(iv) Organisation of three Investor related seminars at three different cities by involving reputed business schools.


(v) Preparation of a Compendium of activities of IEPF undertaken during the last two years.


(vi) Programmes conducted through voluntary organizations/ associations.

(f) As per the information received from the Registrar of Companies, an amount of Rs.370,47,95,998/- has been credited to the IEPF as on 31.05.05 maintained in the Consolidated Fund of India.

(g) No, Sir.

(h) Does not arise.