Sebi mulls safe UPI payment mechanism for registered market intermediaries

Markets regulator Sebi is looking to come out with a new mechanism to ensure secure and efficient payments in the securities market through Unified Payments Interface (UPI) in bid to distinguish legitimate financial intermediaries from fraudsters.

Under the proposed mechanism, the regulator has suggested creating a unique UPI address for registered market intermediaries, making it easier for investors to confirm that they are paying only registered entities.