Message: Return type of CI_Session_null_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_null_driver::close() should either be compatible with SessionHandlerInterface::close(): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_null_driver::read($session_id) should either be compatible with SessionHandlerInterface::read(string $id): string|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_null_driver::write($session_id, $session_data) should either be compatible with SessionHandlerInterface::write(string $id, string $data): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_null_driver::destroy($session_id) should either be compatible with SessionHandlerInterface::destroy(string $id): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_null_driver::gc($maxlifetime) should either be compatible with SessionHandlerInterface::gc(int $max_lifetime): int|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
NRIPage | Articles | SEBI Launches Mitra Platform to Track and Reclaim Lost Mutual Fund Investments | Get Indian Desi Latest Sports News & Updates in USA. Stay Ahead in Sports & Gaming Action - NRI Page
The Securities and Exchange Board of India (SEBI) has introduced a new digital platform named "Mutual Fund Investment Tracing and Retrieval Assistant" (Mitra) to help investors track and reclaim lost, unclaimed, or inactive mutual fund investments. The initiative aims to reduce financial losses due to investor oversight, outdated KYC details, or the demise of the original investor.According to a circular issued by SEBI on February 12, 2025, an inactive folio is defined as a mutual fund folio where no investor-initiated financial or non-financial transactions have taken place for the past 10 years, but a unit balance still exists. Many investors lose track of their mutual fund investments due to changes in their PAN details, missing email IDs, or outdated addresses, making it difficult to locate and reclaim their funds.To address these challenges, Mitra was officially launched on February 21, 2025, and allows investors to conduct up to 25 searches per user, helping them easily find and reclaim their investments.
Why SEBI Launched the Mitra Platform
SEBI highlighted that several mutual fund portfolios do not appear in an investor’s consolidated account statement due to the absence of a valid PAN, email ID, or registered address. This makes it challenging for investors and their legal heirs to track and retrieve investments, leading to millions of unclaimed mutual fund units.Additionally, SEBI pointed out that such inactive folios could become susceptible to fraudulent redemptions. With fraudulent activities on the rise in financial markets, the Mitra platform integrates fraud prevention mechanisms to safeguard investor assets.
How the Mitra Platform Helps Investors
The Mitra platform simplifies the process of tracking and retrieving lost or unclaimed mutual fund investments by offering the following key benefits:
Easy Search for Lost Investments: Investors and legal heirs can find forgotten or inactive mutual fund investments by entering key details, ensuring they recover funds that legally belong to them.
Encourages KYC Compliance: The platform helps in reducing non-KYC-compliant folios, making it easier for investors to update their details and gain access to their financial records.
Enhanced Fraud Prevention: By identifying and protecting inactive folios, Mitra ensures that fraudulent transactions on lost mutual funds are minimized, strengthening investor confidence.
Improved Financial Transparency: The platform enhances accountability in the mutual fund sector, allowing investors to stay informed about their holdings and ensuring better financial governance.
How Investors Can Use the SEBI Mitra Platform
To use the Mitra platform, investors can follow these simple steps:
Visit the official SEBI Mitra website and enter relevant details like PAN, email ID, or registered mobile number.
Conduct a search for inactive or unclaimed mutual fund folios associated with the given details.
Verify investment records and reclaim funds by following SEBI’s prescribed procedures.
The Future Impact of SEBI’s Mitra Platform
The launch of Mitra marks a significant step toward investor protection and financial security in the Indian mutual fund industry. With millions of rupees in unclaimed mutual fund investments, SEBI’s initiative ensures that investors and their legal heirs do not lose access to their rightful funds.By simplifying investment tracking, improving KYC compliance, and preventing fraudulent claims, SEBI’s Mitra platform aims to enhance investor confidence and bring greater transparency to India’s financial markets.As digital financial services continue to evolve, the Mitra platform is expected to play a crucial role in helping investors manage and reclaim their financial assets efficiently.
