Sebi proposes UPI safeguards to prevent fraud in market transactions

The Securities and Exchange Board of India (Sebi) on Friday proposed measures, including creating a unique Unified Payments Interface (UPI), to ensure that investors make transactions only with registered intermediaries through UPI and are safeguarded from fraudulent players.

The market regulator issued the draft circular in this regard following consultation with the National Payments Corporation of India (NPCI) and two committees of Sebi, amid rising instances of online financial frauds.