UPI IDs for market players

On June 11, 2025, the Securities and Exchange Board of India (SEBI) has released a circular, addressed to recognized stock exchanges, clearing corporations, registered depositories, investor-facing intermediaries, registrar and share transfer agents (RTAs) and self-certified syndicate banks (SCSBs). The circular mandates the adoption of a standardized, validated and exclusive UPI ID framework by SEBI-registered intermediaries for collecting payments from investors.

The initiative, conceived after a public consultation process and collaborative discussions with key stakeholders such as the National Payments Corporation of India (NPCI) and SCSBs, is aimed at enhancing both the accessibility and security of digital transactions within India’s securities markets. The structured UPI mechanism ensures that investors can directly transfer funds to the validated bank accounts of registered intermediaries