Sebi upi mechanism: The Securities and Exchange Board of India (SEBI) is considering bringing a new system to ensure safe and better payment in the security market through integrated payment interface (UPI). The market regulator took this step to protect valid financial intermediaries from fraudsters.
Under the proposed system, SEBI has suggested creating a unique UPI address for the registered market mediator, making it easier for investors to ensure that they are paying only to registered units.
The proposed UPI payment limit for capital market transactions has been fixed at Rs five lakh per day, which is more than the current two lakh rupees. It will be evaluated from time to time in consultation with the National Payment Corporation of India (NPCI). The Securities and Exchange Board of India on Friday issued a consultation paper on the proposals and sought public comments on them till 21 February.