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    Question

    Which of the following statements about the IEPFA and

    DBS Bank MoU is/are correct? 1. DBS Bank will disseminate safety messages through its digital platforms to support IEPFA's investor awareness activities. 2. DBS Bank has a presence in 29 Indian states and aims to leverage its extensive network for IEPFA's investor protection messages. 3. The IEPFA was established on September 7, 2016, for administering the Investor Education and Protection Fund.
    A Only Statement 1 Correct Answer Incorrect Answer
    B Statements 1 and 3 Correct Answer Incorrect Answer
    C Statements 2 and 3 Correct Answer Incorrect Answer
    D Only Statement 3 Correct Answer Incorrect Answer
    E All Statements 1, 2, and 3 Correct Answer Incorrect Answer

    Solution

    •     A Memorandum of Understanding (MoU) was signed between the Investor Education and Protection Fund Authority (IEPFA) under the aegis of the Ministry of Corporate Affairs (MCA), and DBS Bank, a prominent financial institution with a strong presence in Asia and Southeast Asia in New Delhi. •     According to the MoU, DBS Bank aims to support IEPFA's investor awareness activities by disseminating safety messages via its various digital platforms. •     Leveraging DBS Bank's extensive network of branches and ATMs in 19 Indian states, as well as its digital infrastructure, will significantly increase the reach of IEPFA's investor awareness and protection messages to the end users. •     DBS Bank will utilise multiple digital platforms to ensure increased visibility and engagement to impart investor awareness activities of IEPFA, such as: Ø  display of safety messages on ATM screens to reach customers during banking transactions Ø  featuring safety messages prominently on the bank’s website Ø  ensuring visibility to online visitors Ø  sending safety messages through WhatsApp and other messaging platforms to engage with a broader audience Ø  showcasing safety messages on digital screens within DBS Bank branches Ø  maximising exposure to customers, and Ø  posting safety messages across DBS Bank's social media accounts. Learn Along: About IEPFA •     The Investor Education and Protection Fund Authority (IEPFA) was set up on September 7, 2016, under the aegis of the Ministry of Corporate Affairs, Government of India, for administering the Investor Education and Protection Fund for making refunds of shares, unclaimed dividends, and matured deposits/debentures, among other things, to investors. •    About DBS Bank •    DBS is a leading financial services group in Asia with a presence in 19 markets. DBS Bank has been present in India for 29 years, opening its first office in Mumbai in 1994. •    DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. •     DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India. •     In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited.

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