NSE Increases Investor Claim Amount to Rs35 Lakh from Rs25 Lakh Per Claim
Moneylife Digital Team 14 August 2024
National Stock Exchange (NSE) has increased the ceiling amount payable out of its investor protection fund (IPF) trust to Rs35 lakh from Rs25 lakh per investor per claim. This limit will be applicable for claims received against the trading members (TM) who have been declared defaulters or have been expelled, the Exchange says.
 
In a statement, NSE says, "As per the Exchange Byelaws, the IPF Trust has increased the maximum permissible limit against a single claim to Rs35 lakh per investor per claim from the current Rs25 lakh."
 
As of 31 July 2024, NSE's IPF Trust has a corpus of Rs2,153.94 crore and paid Rs16.27 crore to investors during this period.
 
 
From 29 March 2000 to 31 October 2023, the IPF Trust received claims from investor-clients of 101 brokers who had become defaulters and were expelled by NSE. During this period, NSE received claims from 115,228 investors and processed 112,014 claims. As per data shared by IPF Trust, 3,214 claims were found to be deficient and under process during the same period.
 
As expected, the maximum number of claims (61,931) are filed by client-investors of Karvy Stock Broking Ltd. The IPF Trust settled claims of 60,809 investors while 1,122 claims are under process, the data shows.
 
 
In terms of the number of claims, Karvy is followed by investor-clients of BMA Wealth Creators Ltd. The IPF Trust received 17,138 claims and settled 16,939 claims. About 199 claims of investor-clients of BMA Wealth are being processed.
 
Comments
r_ashok41
6 months ago
Good initiative from them.
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