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Outreach Programme For Awareness Of Cryptocurrencies And Online Gaming

Outreach Programme For Awareness Of Cryptocurrencies And Online Gaming:

The Investor Education and Protection Fund (IEPF) will launch an outreach programme to create awareness of Cryptocurrencies and Online Gaming.

  • The need for the outreach programme is based on the observation that both crypto-assets and online gaming (that extends to gambling and betting) are still being promoted in a risky manner despite the recent turmoil in the sector.
  • The programme will help potential investors to thoroughly educate themselves before making any decision since cryptocurrency investing is a complex and risky endeavour.
  • It is managed by the IEPF Authority, which was set up in 2016 under the provisions of Section 125 of the Companies Act, 2013.
  • The Authority is entrusted with the responsibility of administration of the IEPF, which, besides promoting awareness among investors, makes refunds of shares, unclaimed dividends, matured deposits and debentures and so on to rightful claimants.
  • As for investment education, the idea is to reach out to household investors, housewives and professionals alike in rural and urban areas and teach them the basics.
  • Focus areas include primary and secondary capital markets, various saving instruments, the instruments for investment (such as mutual funds, equity, among others), making investors aware of dubious Ponzi and chit fund schemes and existing grievance redressal mechanisms, among other things.