Railway Officer Sumit Garg Named CEO, Investor Education and Protection Fund Authority

Sumit Garg, presently on deputation to the Centre for Railway Information Systems as General Manager (EP), has been appointed Chief Executive Officer of the Investor Education and Protection Fund Authority under the Ministry of Corporate Affairs, for a combined tenure of seven years up to August 31, 2029. He is an officer of the Indian Railway Service of Electrical Engineers.

IEPFA administers the Investor Education and Protection Fund, which handles unclaimed dividends, matured deposits and shares transferred by companies, and runs investor-awareness programmes across the country. The CEO's post carries responsibility for both the fund's claims-processing operations and its public outreach mandate.

Garg's move from a railway technology posting at CRIS — where his work would have centred on IT systems supporting railway operations — to a financial-sector regulatory body continues a pattern of technical service officers being deployed to central bodies handling large-scale data and claims-processing systems, an area IEPFA's operations depend on heavily given the volume of investor claims it processes.

The seven-year combined tenure gives Garg continuity through multiple cycles of the authority's claims-settlement and awareness-campaign calendar.

The appointment takes effect on deputation basis, with the tenure running until August 31, 2029.