Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / SEBI's new tool can make tracking unclaimed mutual funds easy
    Summarize
    Next Article
    SEBI's new tool can make tracking unclaimed mutual funds easy
    MITRA platform will help locate unclaimed mutual fund folios

    SEBI's new tool can make tracking unclaimed mutual funds easy

    By Mudit Dube
    Dec 17, 2024
    06:31 pm

    What's the story

    The Securities and Exchange Board of India (SEBI) has announced the development of a new platform, MITRA (Mutual Fund Investment Tracing and Retrieval Assistant).

    The initiative is aimed at helping investors locate inactive and unclaimed mutual fund folios.

    The need for such a platform comes as many investors lose track of their investments due to minimal KYC details or outdated personal information.

    Platform benefits

    MITRA to address missing KYC details issue

    Folios missing KYC details, such as a valid email address or PAN, might not even be reflected in a unitholder's Consolidated Account Statement.

    To address this concern, SEBI's MITRA platform will create an industry-level, searchable database of inactive and unclaimed mutual fund folios.

    This platform is being developed in collaboration with CAMS and KFIN Technologies.

    You're
    25%
    through

    Investor benefits

    MITRA platform: A tool for transparency and compliance

    The MITRA platform will allow investors to find forgotten investments made in their name or find investments they might be entitled to claim.

    It seeks to promote KYC compliance by prompting investors to update their details, thus, reducing non-compliant folios.

    The platform also aims to promote transparency in the financial ecosystem by helping investors find inactive/unclaimed investments.

    You're
    50%
    through

    Security measures

    MITRA platform to minimize fraud risks

    Along with encouraging transparency and compliance, MITRA platform will also have safeguards to minimize the chances of fraudulent redemptions.

    An "inactive folio" is one where no investor-initiated transactions have been made in the last 10 years, but the balance in the units still persists.

    The platform promotes tracking such investments and updating KYC details without any penalties for those who want to keep their investments active.

    You're
    75%
    through

    Platform accessibility

    Beta version of MITRA platform expected soon

    The MITRA platform will be jointly hosted by CAMS and KFIN Technologies, and will be accessible through MF Central, AMCs, and AMFI websites.

    A beta version is expected to be released within the next few months for a two-month trial period.

    AMCs, RTAs, and mutual fund distributors will be tasked with raising awareness about the new platform among investors.

    Done!
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Securities and Exchange Board of India
    Mutual Funds

    Latest

    KKR knocked out of IPL 2025 after washout versus RCB Kolkata Knight Riders (KKR)
    Jasmine Paolini makes history by winning 2025 Italian Open: Stats Coco Gauff
    White pigeons pay tribute to Virat Kohli during RCB-KKR clash Virat Kohli
    Yuzvendra Chahal has dismissed Sanju Samson 5 times in IPL Indian Premier League (IPL)

    Securities and Exchange Board of India

    Mahua files Lokpal complaint against SEBI chief over Adani links Adani Group
    Congress alleges SEBI chief Madhabi Buch traded in listed securities Congress Party
    Swiggy eyes IPO filing this week, aims to raise $1B Swiggy
    SEBI backtracks, will now address protesting employees' concerns 'amicably' Business

    Mutual Funds

    Mutual funds demand easing RBI's limit on overseas investments Securities and Exchange Board of India
    Hybrid mutual funds witness inflows worth ₹1.45 lakh crore India
    Gold ETFs witness first outflow of ₹396cr since March 2023 India
    JioFinance app debuts with UPI, digital banking, bill payment services Insurance
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025