On its seventh Foundation Day, the Investor Education and Protection Fund Authority (IEPFA), in collaboration with the Institute of Company Secretaries in India (ICSI) and National Council of Applied Economic Research (NCAER), held a conference on “Understanding the Psychology of Scams: How to Avoid Fraudulent Schemes”, at New Delhi, on 5 September 2023.
In his keynote address during the Conference, Dr Manoj Govil, Chairman, IEPFA, and Secretary, Ministry of Corporate Affairs (MCA), highlighted IEPFA’s initiatives spanning diverse societal segments, including the youth, homemakers, retirees, professionals, and children. He highlighted the launch of State-level programmes in untapped regions like Mizoram, Srinagar, and Bhubaneswar, focusing on secure investment practices and the hazards of fraudulent schemes. Ms Anita Shah Akella, CEO, IEPFA, and Joint Secretary, MCA, delivered the inaugural address at the Conference.
The IEPFA Chair Professor at NCAER, Dr C.S. Mohapatra moderated the technical session at the Conference, on ‘Understanding the Psychology of Scams: How to Avoid Fraudulent Schemes’. The panellists at the session included Mr Ajay Tyagi, former SEBI Chairman, Dr M.S. Sahoo, former IBBI Chairman and former SEBI member, Mr Dhirendra Kumar, CEO of Value Research, and Ms Suchitra Maurya, Banking Ombudsman, Delhi, Reserve Bank of India.
Two educational resources were also unveiled at the event: (i) the “Fundoo-nomics” board game, a unique initiative of IEPFA’s Media and Awareness wing, based on IIT Delhi’s Department of Management findings for IEPFA’s on-ground activities, which aims to simplify financial concepts and promote financial literacy across various age groups, and (ii) segment-wise one-page guides offering a concise roadmap for investors to help them navigate the financial landscape.