SEBI Plans Secure UPI Payment Address


SEBI Plans Secure UPI Payment Address

SEBI has suggested a unique UPI address for registered market intermediaries, making it easier for investors to ensure they are paying only SEBI registered entities; feedback sought by Feb. 21

 
SEBI

February 3, 2025 - Market regulator Securities and Exchange Board of India (SEBI) is considering introducing a new payment system through Unified Payments Interface (UPI) to ensure secure and better payments in the securities market. The regulator has taken this step to protect legitimate financial intermediaries from fraudsters.

UPI as a mode of payment has been released in the market by SEBI since the year 2019. Under the proposed system, SEBI has suggested creating a unique UPI address for registered market intermediaries, making it easier for investors to ensure they are paying only SEBI registered entities.

"This unique UPI address will help investors ensure that their payments are reaching only to registered intermediaries. As a corollary, this would also help investors identify, isolate and avoid unregistered entities, who will not have access to this unique UPI handle," SEBI has said.

The proposed UPI payment limit for capital market transactions has been set at Rs 5 lakh per day, which is higher than the current limit of Rs 2 lakh. This limit will be evaluated periodically in consultation with the National Payments Corporation of India (NPCI).

SEBI has issued a consultation paper on the proposals seeking public feedback on them by February 21.

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