Stock brokers to offer UPI-based fund blocking account to investors

Starting February 1, qualified stock brokers will have to either offer the facility of trading in the secondary market using the UPI-based block mechanism to their clients, similar to the ASBA facility, or a three-in-one trading account facility, a move that will empower investors.

Qualified Stock Brokers (QSBs) must offer one of these two options, in addition to the current mode of trading.

A three-in-one trading account combines a savings account, a demat account, and a trading account into a single integrated solution.