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SEBI Launches @valid UPI Handle and ‘SEBI Check’ to Protect Investors
SEBI UPI: India's stock market regulator, SEBI, has launched a major initiative to prevent payment fraud. SEBI has launched 'Valid UPI' and 'SEBI Check' services. The regulator stated that these two initiatives will enhance investor security and bring transparency to digital transactions. Learn about the key changes that will occur after the launch of these services.
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.
