Markets regulator Sebi on Wednesday stated it has mandated a brand new UPI cost mechanism for all registered intermediaries, who acquire funds from buyers, to enhance the protection and accessibility of economic transactions throughout the securities market.
The Unified Funds Interface (UPI) cost mechanism will go stay from October 1, 2025, Sebi chief Tuhin Kanta Pandey advised reporters right here.
Lately, unregistered entities have more and more misled buyers by fraudulent actions.
Tackling Inventory Market Fraud
To deal with the problem of impersonation and improve investor confidence, the regulator has mandated a brand new UPI deal with construction for all Sebi-registered intermediaries who acquire funds from buyers.
“This progressive mechanism is ready to considerably enhance the protection and accessibility of economic transactions throughout the securities market by offering a verified and safe cost channel,” Pandey stated.
To empower buyers, the market regulator is creating a brand new performance known as “Sebi Verify”.
This upcoming software will allow buyers to confirm the authenticity of UPI IDs both by scanning a QR code or getting into the UPI ID manually and confirming the financial institution particulars, such because the account quantity and India Monetary System Code (IFSC) of a registered middleman.
In January, the Securities and Trade Board of India (Sebi) floated a session paper on this regard.
