Category: Business

SEBI data reveals that the MF industry has unclaimed amount of over Rs.2600 crore in FY 2023. In FY 2022,the unclaimed amount of the MF industry was Rs.2500 crore. Unclaimed amounts of mutual funds are on account of non-encashment of dividends and maturity proceeds by investors. Of the total unclaimed amount, Rs.980 crore is due to unclaimed redemption. This indicates that majority of unclaimed amount i.e. Rs.1660 is in the form of dividend.