What is the primary function of the MITRA (Mutual Fund Investment Tracing and Retrieval Assistant) platform developed by Qualified RTAs (CAMS and KFintech) under SEBI direction?

[ A ]To execute high-frequency algorithmic equity derivative arbitrage trades for institutional hedge funds.

[ B ]To provide a centralized industry-wide search platform enabling investors and legal heirs to trace inactive, overlooked, and unclaimed mutual fund folios across all AMCs.[ CORRECT ]

[ C ]To issue credit cards to unitholders against their mutual fund units without KYC verification.

[ D ]To replace all SEBI registered mutual fund distributors with artificial intelligence robots.

Takeaway

Option B is correct: To provide a centralized industry-wide search platform enabling investors and legal heirs to trace inactive, overlooked, and unclaimed mutual fund folios across all AMCs.

Derivation

To minimize unclaimed assets and protect investor interests, SEBI directed Qualified RTAs (QRTAs - CAMS and KFintech) to develop MITRA (Mutual Fund Investment Tracing and Retrieval Assistant). MITRA acts as a centralized, unified online portal hosted across AMC, QRTA, AMFI, and SEBI websites. It allows investors, legal claimants, and nominees to search across the entire industry to trace forgotten, inactive, or unclaimed mutual fund folios, update KYC, and retrieve their investments. This tests recent investor protection initiatives. The common error is confusing MITRA with an automated trading portal.

Why the others fail

A — To execute high-frequency algorithmic equity derivative arbitrage trades for institutional hedge funds.

MITRA is an investor service retrieval search engine, not an algorithmic trading engine for institutional hedge funds.

C — To issue credit cards to unitholders against their mutual fund units without KYC verification.

MITRA is designed to reunite investors with unclaimed assets and does not issue credit cards or bypass KYC rules.

D — To replace all SEBI registered mutual fund distributors with artificial intelligence robots.

MITRA assists in tracing lost folios and has no mandate to replace professional mutual fund distributors.