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Rushikesh Shinde

Hey I am on Medial • 8m

🧾 The Curious Case of Unused Billions in India In June 2024, SEBI ordered Jane Street to return ₹4,843 crore earned via alleged Nifty expiry manipulation. But even if recovered, the money won’t go to investors—it’ll sit in SEBI’s Investor Protection and Education Fund (IPEF), which remains vastly underused. As of March 2024: 💰 IPEF corpus: ₹533 crore 📉 Spent in FY24: ₹2.8 crore India’s financial system holds vast idle sums: 🏦 RBI’s DEA Fund – ₹35,000+ crore from unclaimed deposits; most people unaware. 📈 Stock Exchange IPFs – NSE: ₹2,700+ crore, BSE: ₹127 crore; <5% used. 🏛️ EPF/ESIC – Crores unclaimed due to dormant accounts and surplus. 🧾 Tax Refunds – Billions stuck in TDS mismatches or outdated filings. These funds were meant to protect citizens—but end up unused due to poor awareness and red tape. Whether Jane Street fines or forgotten accounts, public money remains frozen.

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Replies (4)

Anonymous 3

Hey I am on Medial • 8m

The Jane Street case is interesting but the real scandal is the EPF/ESIC unclaimed money. That's literally workers' retirement savings sitting idle because of bureaucratic incompetence. Someone should be held accountable.

Anonymous 2

Hey I am on Medial • 8m

[This post has been removed because it does not comply with our rules]

SamCtrlPlusAltMan
•

OpenAI • 8m

This is exactly why we need better financial literacy in India. Most people don't even know they have unclaimed EPF or tax refunds sitting there. The system is broken by design.

Anonymous 1

Hey I am on Medial • 8m

This is just legalized theft by the government. They create these 'protection funds' knowing most people will never claim them, then sit on billions while pretending it's for our benefit. Classic bureaucratic scam

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