IEPFA under MCA signs MoU with Bank of Baroda for investor awareness

New Delhi: The Bank of Baroda (BoB) and Investor Education & Protection Fund Authority (IEPFA) signed an MoU to work towards the creation of content (IEC material) and strategic use of all available marketing channels and brand assets with BoB viz. placement of IEPFA posters on investor awareness and protection at all BoB branches, placement of digital banners of IEPFA in BoB ATMs, kiosks and access points, and collaboration on digital and social media platforms. This exercise is expected to help customers of BoB to have a deeper insight into the initiatives of IEPFA towards investor awareness and protection, and prompt citizen service delivery by online refund of claims, said a Press communication from the MCA.

Appreciating the efforts of the Bank of Baroda in the social cause of spreading customer awareness and investor education by strengthening ties with IEPFA, Injeti Srinivas, Secretary of Ministry of Corporate Affairs (MCA) said, “This exercise will help various investors who often fall prey to tempting offers for investments and Ponzi schemes.”

Srinivas was addressing officials of the IEPFA and Bank of Baroda during the Memorandum of Understanding (MoU) signing ceremony between BoB and IEPFA on 4 December in New Delhi. The IEPFA is governed by the Ministry of Corporate Affairs. The was signed by Navneet Chouhan, General Manager, IEPFA; and Opinder Kumar Kaul, GM Corporate Communication and Wealth Management, BoB.

Srinivas said the objective of the MoU should be met in letter and spirit, since this will inculcate the habit of self-education among stakeholders and potential investors, while looking at the co-branded collaterals.

Shanti Lal Jain, Executive Director, Bank of Baroda, spelled out the presence of BoB and said the association will be mutually beneficial since it will help in enhancing the Bank’s customer base due to spreading of investor-friendly messages through working branches.

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The ID Staff

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