SEBI Launches @valid UPI Handle and ‘SEBI Check’ to Protect Investors

On Wednesday, Indian stock market regulator SEBI introduced two new features to prevent fraud by unregistered institutions and secure investor payments. The second feature is the @valid UPI handle. Now, SEBI-registered brokers, mutual funds, and other institutions will use the @valid handle with their UPI IDs.

After the launch of these services, category-specific indicators will also be added, such as .brk for brokers and .mf for mutual funds. This means investors will be able to easily identify whether the entity is registered with SEBI. If a payment is made using this handle, a 'thumbs up in a green triangle' icon will appear, ensuring the authenticity of the transaction.

The QR code has also been designed with this icon to ensure easy and error-free payments. SEBI stated that major brokers and all mutual funds have already adopted this handle. This feature will also work with NEFT, RTGS, and IMPS, allowing investors to make payments using their preferred method. The SEBI Check tool allows investors to verify any SEBI-registered entity.

The second initiative is SEBI Check. This is a tool that allows investors to manually verify the bank account and UPI ID of any SEBI-registered entity. This verification can be done on the SEBI Check platform, the Sarathi app, or the SEBI website.

To verify, simply enter @valid UPI ID or bank account and IFSC. SEBI says these two initiatives will enhance investor protection, prevent fraud, and bring transparency to digital transactions. The regulator has advised investors to use the @valid UPI handle and to verify their bank account and UPI ID before transferring funds.