SEBI Circular - 12th June 2025

SEBI, through its Circular dated June 11, 2025, has introduced a structured, standardised, and validated Unified Payment Interface (UPI) address mechanism for SEBI-registered investor-facing intermediaries to securely collect funds from investors. While adoption by investors is optional, intermediaries must obtain and display exclusive UPI IDs (formatted as username.segment@validbank) verified by SEBI and NPCI. This initiative, effective October 1, 2025, aims to enhance payment transparency, investor confidence, and security. It includes features like the “SEBI Check” tool for verification, mandatory awareness campaigns, and phased implementation timelines for MIIs, banks, and intermediaries.

Link: View Circular