SEBI Mandates UPI Payment System for Market Intermediaries from Oct 1

The Securities and Exchange Board of India (SEBI) yesterday said it has mandated a new UPI payment mechanism for all registered intermediaries who collect funds from investors to enhance investor protection and financial transparency within the securities market. 

Speaking in Mumbai, SEBI chief Tuhin Kanta Pandey announced that the Unified Payments Interface (UPI) payment mechanism will be implemented from 1st October 2025. This step comes in response to increasing instances of fraud by unregistered entities impersonating



genuine market intermediaries.

The SEBI chief said this innovative mechanism is set to significantly improve the safety and accessibility of financial transactions within the securities market by providing a verified and secure payment channel. To assist investors further, SEBI is also launching a tool called ‘SEBI Check’, which will allow users to confirm the authenticity of UPI IDs by scanning a QR code or manually entering the UPI ID to view verified bank details.