Unclaimed Shares and Dividends: Govt to Launch Integrated Portal, Payouts to Be Settled in Days, Say Reports

The Union ministry of corporate affairs (MCA) will soon roll out an integrated digital portal to expedite the transfer of unclaimed shares and dividends to investors, marking a major reform in investor services. Quoting people aware of the details, a report from Economic Times (ET) says, after about two years of planning, preparations and testing, the much-awaited integrated portal will be launched this month to speed up the transfer of old unclaimed shares and dividends to investors. The move, nearly two years in the making, is designed to slash processing times from months to days, reduce paperwork, and cut out inefficiencies that have long plagued the system. Currently, shares, dividends and matured debentures that remain unclaimed for seven years are transferred by comp