SEBI has introduced a circular mandating a secured Unified Payment Interface (UPI) mechanism for investor-facing intermediaries to receive funds, aiming to increase investor confidence and prevent impersonation of legitimate market intermediaries. The framework includes validated UPI handles with unique identifiers, additional security measures like a distinctive icon and QR codes, and a ‘SEBI Check’ tool for real-time verification. These measures will be mandatory for SEBI-registered intermediaries from October 1, 2025, and will enable investors to verify the authenticity of payment recipients and mitigate instances of fraud.
The article was authored by Probir Roy Chowdhury, Partner, and published in Mondaq.
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Probir specializes in Corporate Commercial, Venture/Private Equity and Information Technology/FinTech. He has been involved in corporate transactions focused on the high technology industry including cross border Mergers & Acquisitions.