MITRA platform launched to help investors trace inactive and unclaimed MF folios
AMCs' RTAs (CAMS and KFin) jointly run a new industry-wide searchable database — MITRA — that helps investors find folios with no investor-initiated transaction in the last 10 years but a remaining unit balance. A distributor should know this exists: it's a real channel to help a client recover a forgotten investment, and it doubles as a nudge toward KYC updates.
“An inactive folio shall be defined as "Mutual Fund Folio(s) where no investor initiated transaction/s (financial and non-financial) have taken place in the last 10 years but unit balance is available". ... The MITRA platform has been hosted jointly by the two Qualified RTAs (QRTAs) viz. Computer Age Management Services Limited (CAMS) and KFIN Technologies Limited as agents of AMCs and available through a link on the website of MF Central, AMCs, AMFI, the two QRTAs and the Board.”
A distributor's client who inherited a family member's old mutual fund investment, but has no paperwork for it, can be pointed to the MITRA portal (linked from MF Central and AMFI) to search CAMS/KFin's joint database of folios with no transaction in 10+ years — a real path to recovering forgotten units instead of writing them off as lost.
Illustrative scenario written by Northspread — not text from the circular itself.