The Securities and Exchange Board of India (SEBI) on January 31, 2025, issued the notification regarding the Consultation paper on draft circular for “Safe and Efficient Transfers on UPI”
The following has been stated namely: -
• The consultation paper is envisaged to create a unique Unified Payments Interface (‘UPI’) address for collection of money by SEBI investor facing registered market participants/intermediaries (‘Registered Intermediaries’).
• This unique UPI address will help investors ensure that their payments are reaching only to SEBI registered intermediaries. As a corollary, this would also help investors identify, isolate and avoid unregistered entities, who will not have access to this unique UPI handle.
• The Proposed Mechanism for payment collection by SEBI registered intermediaries has been stated.
The comments/suggestions should be submitted latest by February 21, 2025, through the following link: https://www.sebi.gov.in/sebiweb/publiccommentv2/PublicCommentAction.do?d oPublicComm
