MITRA

Key features of MITRA

MITRA, which has been developed by Registrar and Transfer Agents (RTAs), aims to empower investors by:

• Helping them identify overlooked investments or those for which there are legal claimants.

• Encouraging investors to complete KYC as per current norms.

• Reducing the number of unclaimed mutual fund folios.

• Promoting financial transparency and security.

• Mitigating risks related to fraud in inactive folios.

Classification of inactive folios

A mutual fund folio that has had no investor-initiated financial or non-financial transactions in 10 years is regarded as inactive. Units remain in such an account.

The inactive folios will include those folios where the investor might have remained invested in an open-ended scheme and has either chosen not to redeem or simply might have lost track of the investment. There is no consequence for those folios appearing in the platform where the unitholder is aware of the investment and has chosen to remain invested. The objective of the platform is to encourage the investors to search for forgotten MF investments and update KYC as per the current norms.