Context: The Investor Education and Protection Fund Authority (IEPFA) under the aegis of Ministry of Corporate Affairs will launch an outreach programme soon to create awareness of cryptocurrencies and online gaming. 

• The need for the outreach is based on the observation that both crypto-assets and online gaming (that extends to gambling and betting) are still being promoted in a risky manner despite the recent turmoil in the sector. 

Investor Education & Protection Fund Authority (IEPFA) 

• For administration of Investor Education and Protection Fund, the Ministry of Corporate Affairs has established Investor Education and Protection Fund Authority under the Companies Act, 2013. 

• The main objective of the authority includes to promote Investor Education, Awareness & Protection, and to refund unclaimed shares, dividends and other amounts transferred to it to the rightful claimants. 

Investor Education and Protection Fund (IEPF) 

• Investor Education and Protection Fund (IEPF) has been established under provision of the Companies Act, 2013. 

• The amounts such as dividends, applications money, matured deposits etc, which have remained unpaid or unclaimed for a period of 7 years are required to be transferred to the IEPF. 

• The Amounts credited to IEPF are maintained under the Consolidated Fund of India (Article 266 of the Constitution). 

• The Fund is also utilised for distribution of any disgorged amount among eligible applicants for shares or debentures, shareholders, debenture-holders or depositors who have suffered losses due to wrong actions by any person, in accordance with the orders made by the Court. 

• When a person or entity in the securities market makes a profit by fraudulent means, a 'disgorgement' order is issued to repay those gains to affected investors with interest. 

Additional Fact

• The Ministry of Electronics and Information Technology (MeitY) has been appointed the nodal industry for online gaming in India; for e-sports, the nodal agency is the Department of Sports, under the Ministry of Youth Affairs and Sports.