SEBI launched the @valid UPI Handle and SEBI Check tools, which will help investors make secure payments and identify SEBI-registered institutions. Focus on fraud prevention.
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New Delhi. Indian stock market regulator SEBI on Wednesday launched two new features to secure investor payments and prevent fraud by unregistered entities. The first feature is the @valid UPI Handle. Now, SEBI-registered brokers, mutual funds, and other institutions will use the @valid handle with their UPI IDs and add category-specific indicators, such as .brk for brokers and .mf for mutual funds.
This means investors can easily identify whether the entity is registered with SEBI. If a payment is made using this handle, a “thumbs up in a green triangle” icon will appear, ensuring the authenticity of the transaction. The QR code is also designed with this icon to ensure easy and error-free payment.
SEBI stated that major brokers and all mutual funds have already adopted this handle. The facility will also work with NEFT, RTGS, and IMPS, allowing investors to make payments using their preferred method.
The second initiative is SEBI Check. This is a tool that allows investors to self-verify the bank account and UPI ID of any SEBI-registered institution. This verification can be done on the Sebi Check platform, the Saarthi app, or the SEBI website. Simply enter a valid UPI ID or bank account and IFSC.
SEBI says these two initiatives will enhance investor protection, prevent fraud, and bring transparency to digital transactions. The regulator has advised investors to use the @valid UPI handle and to verify their bank account and UPI ID before transferring funds.
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