Sebi Unveils UPI Handle Verification and SEBI Check for Investor Security
Sebi introduced the 'validated UPI Handles' and 'SEBI Check' initiatives to enhance payment security for investors and combat fraudulent activities by non-registered entities. Developed with NPCI, the system uses the '@valid' handle for swift UPI identification, alongside tools for verifying transaction authenticity.
- Country:
- India
The Securities and Exchange Board of India (Sebi) announced two pivotal initiatives on Wednesday, aimed at bolstering payment security for investors while curbing fraudulent activities by unauthorized entities.
The initiatives—validated UPI Handles and SEBI Check—enable investors to easily recognize legitimate financial intermediaries through a new '@valid' UPI feature, developed in collaboration with the National Payments Corporation of India (NPCI). This new feature includes specialized suffixes like '.brk' for brokers and '.mf' for mutual funds, allowing for smoother payment operations.
The 'SEBI Check' tool further empowers investors by verifying bank account details and UPI identifiers through various platforms, enhancing transparency and reinforcing the regulator's dedication to investor protection and market integrity.
(With inputs from agencies.)
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