The shareholders of SBI, whose dividend is outstanding with the bank for the last 7 years, should send their claims to the bank as soon as possible.
If you are a shareholder of the country’s largest bank State Bank of India (SBI), then this is news of your work. SBI has issued a notification asking its shareholders that shareholders whose dividend (dividend) is outstanding with the bank for the last 7 years should send their claims to the bank as soon as possible. The last date for sending these claims seeking dividend to shareholders has been kept on 20 April 2021.
SBI has said that if these shareholders do not provide their claims related to the unclaimed dividend amount by 20 April, then this amount will be deposited in the Investor Education and Protection Fund (IEPF).
Dividend amount lying in IEPF will go for seven years
The SBI has said that under Section 38A (3) of the State Bank of India Act, 1955, the bank will transfer the amount of the unclaimed dividend to the IEPF for a period of seven years.
SBI has said that during the financial year 2013-14, the amount of dividend issued by SBI or its erstwhile associate SBI banks which is lying unpaid or unclaimed will be transferred to IEPF. In order to claim this amount transferred to IEPF, the concerned shareholder has to go through IEPF.
How can I claim?
The bank has stated that since it is mandatory to transfer unpaid or unclaimed dividend to IEPF within a stipulated period, the shareholders are requested to submit their unpaid or unclaimed dividend claims related to the financial year 2013-14 till April 20 of the bank. Send it to the Registrar and Transfer Agent (RTA).
SBI has also told its shareholders that they should also update their KYC data, email ID, mobile number and bank account details at TRA. Apart from this, the shareholders who have shares in demat form should update these documents with their respective Depository Participant so that the payment of money can be done without any problem.
Submit your claims here
SBI has given the address of Delhi to send its claims to RTA. Shareholders can send their claims to this address: Ornate Assignments Limited (Unit of State Bank of India), 205-208, Anarkali Complex, Jhandewalan Extension, New Delhi – 110055
Shareholders can also contact on these phone numbers. – 7290071335
Email: sbi.igr@alankit.com
The IEPF has been prepared by the Investor Education and Protection Fund Authority (IEPFA). It comes under the Ministry of Corporate Affairs. According to the IEPFA website, the Investor Education and Protection Fund is designed to create awareness among investors and protect their interests. It states that the IEPFA website provides a platform to raise awareness and does not provide any investment advice.
